Venture Aircraft, LLC acquires assets of Swift-Cor Aerospace, Inc. to form Impresa Aerospace, LLC
Gardena, CA (PRWEB) April 15, 2012
Venture Aircraft, LLC, a leading supplier to the aerospace industry, has acquired certain assets of fellow manufacturer Swift-Cor Aerospace, Inc. Venture has acquired certain of Swift-Cors assets and manufacturing facilities in California and Kansas, and will now operate 4 plants (two in Gardena, CA, one in Compton, CA and one in Wichita KS) under its new name: Impresa Aerospace, LLC.
Jim Dauw, CEO of Impresa Aerospace describes the acquisition: The creation of Impresa was a golden opportunity. The companies were similar in many ways, including the production lines, work ethic, work statements, and the customer base. When you consider the state of the industry, with demanding delivery schedules and increasing pressure on costs, building Impresa based on the strongest aspects of Venture and Swift-Cor just made sense.
Impresas history as a supplier to the Tier 1 and Tier 2 aerospace industry dates back to 1973 (then operating as Venture). The company boasts major contracts with Boeing, Spirit Aerosystems, Sikorsky, Lockheed Martin and Gulfstream. Notable commercial programs include the Boeing 787, 777, 747, 737; Airbus A330 and A340; and Gulfstream G650. Impresa supports various defense-related programs, including Boeings Apache Helicopter, C-17 and F-18; Sikorkys Black Hawk helicopter, and the Lockheed Martin C130.
The company plans on consolidating the existing four facilities into two locations. The 100,000 square foot Gardena, CA plant, along with the 40,000 square foot Wichita, KS plant, will employ 350 machinists, engineers and support staff providing exceptional quality and delivery performance to its customers. This acquisition puts us in a unique position to successfully service an industry that is experiencing a rapid increase in aircraft build rates, states Rovalier Thompson, Director of Sales and Marketing for Impresa Aerospace.
Impresa, along with the companys financial partner Graycliff Partners, anticipates further acquisitions. Graycliff Partners is a New York based Private Equity firm with offices in New York and Sao Paulo, Brazil.
Founded in, Southern California in 1973, Venture Aircraft, has operated as a privately-owned business primarily serving the aerospace industry. Swift-Cor Aerospace has served the same industry for over 50 years from its Gardena, California location. Both companies provide a comprehensive array of manufacturing, finishing, and assembly services and are noted for providing OEMs with high-quality, sheetmetal parts, precision CNC machined details, and assemblies.
For more information about Impresa Aerospace contact Rovalier Thompson.