NORTH AMERICAN NEWS TCI Group acquires Grattan Fastening
TCI Investment Group Inc – parent company to Brighton-Best International – has acquired Dave Grattan & Sons Inc/Grattan Fastening Products, according to a legal notice of bulk sale.
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into two independent, publicly traded companies – one manufacturing aircraft cabin interior equipment, and the second focused on distribution, logistics and technical services for the aerospace and energy services markets. B/E Aerospace plans to separate the businesses via a tax free distribution to shareholders, with shareholders holding shares in two independent and publicly traded companies. One of those would be Services Co, which would distribute aerospace
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fasteners, consumables and logistics services to the airline and aerospace industries. Services include inventory management and replenishment, creative and differential supply chain solutions, packaging and barcoding, parts kitting, quality assurance testing and purchasing assistance programs. Service Co facilities include a 62,000 square foot manufacturing facility in
West Virginia, along with seven distribution centres in the US, two in Germany, two in the UK, and one in France.
rattan is a fastener distributor based in Irwindale, southern California, originally founded in Florida in 1957 by Dave Grattan to represent a New York based masonry anchor manufacturer. In 1960 Grattan relocated to southern California and began representing other fastener manufacturers and developed customers in the hardware, lumber and industrial supply sectors. In the 1970s he introduced the Grattan brand of fasteners.
A notice to creditors of the bulk sale is mandated by California law whenever an inventory based business is sold. The ‘bulk sale’ designation indicates the entire business, including DBA identities and intellectual property, were sold.
B/E Aerospace
reports record results B/E Aerospace reported its consumables management segment revenue – primarily aerospace fasteners – jumped 36.5% to US$426.7 million (339.2 million euros) in the second quarter of 2014.
he consumables business delivered “high single digit organic revenue growth”. Q2 operating earnings rose 27.7% to US$78.3 million, and operating margin was 18.4%. In June B/E Aerospace announced it would separate its businesses
SPIROL expands North American headquarters
SPIROL International Corporation will add 30,000 square feet to its North American headquarters in Connecticut, USA, announced CEO Jeffrey Koehl.
overhaul of the existing manufacturing facility and the addition of a new secondary operations line.
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PIROL hosted the New England Fastener Distributors Association where Koehl said the expansion would include a complete
Continental-Midland acquired by NY equity fund
Continental-Midland Group LLC (CMG) and Tiffin Holdings LLC have been acquired by Monomoy Capital Partners, a New York private equity fund, for an undisclosed sum.
ontinental-Midland, owned and operated by the Kaminski family for the past 10 years, is a US$240 million (190.8 million euros) manufacturer of custom engineered metal fasteners, cold formed parts and stampings for car makers, automotive suppliers, and industrial manufacturers. CMG markets its products, which include safety-critical seat belt fasteners, automobile door strikers and wheel nuts, under the trade names
Continental-Midland, Jacobson, Tiffin, MSD Stamping and Minuteman Distribution. It operates six facilities in Illinois, Indiana, Ohio and Michigan and employs 650 workers. David Kaminski remains as CEO and commented: “Monomoy has a great track record in the automotive industry,
and we are convinced that the Monomoy team is the right group to take CMG to the next level of excellence for our customers, suppliers and employees.”
Fastener + Fixing Magazine • Issue 89 September 2014
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