Greenwood Manufacturer Acquired
FORT WORTH, Tex. - A Greenwood-based manufacturer is among three companies acquired by Texas-based Novaria Group. L&E Engineering Co. Inc., along with Ohio-based Ferco Tech Corp. and GGF Manufacturing in Kentucky, produce various metal fabrications for aircraft engine manufacturers.
The three companies are subsidiaries of Ferco Aerospace. Novaria Group says the businesses have a combined manufacturing space of more than 120,000 square feet and 225 employees.
The company says manufacturing operations for all three companies will continue.
"For decades, these businesses have provided aerospace engine customers with consistently safe and reliable products. We look forward to their continued support of current and next-generation aircraft for years to come," said Bryan Perkins, co-CEO and president of Novaria Group. "Ferco Aerospace embodies Novaria’s consistent strategy of acquiring complementary businesses’ units with unique sets of capabilities that enhance existing operations. This, along with Novaria’s experienced management team, provides customers and access to more product and service solutions."
Novaria says the acquisitions will enable the company to establish "a third platform that focuses on higher-level assemblies and products requiring welding and unique fabrication."
"We have built a strong management team, and we are confident that with Novaria’s leadership and commitment to excellence in aerospace manufacturing, we will take the legacy of a well-established family-owned business to new levels of sophistication and expertise for generations to come," said Greg Sandberg, general manager of Ferco Aerospace,