Aerospace parts distributor and supply chain services provider Wesco Aircraft Holdings Inc. has acquired a Canadian company as part of an effort to sell to the aircraft maintenance and repair market.
Valencia-based Wesco will pay $130 million for the assets of Interfast Inc., of Toronto.
Interfast distributes specialty fasteners, fastening systems and production installation tooling for the aerospace, electronics and general industrial markets.
The acquisition will accelerate the growth of Wesco in the North American and Asian markets and strengthen relationships with existing aerospace customers, said President and CEO Randy Snyder.
“In addition, this transaction will support our initiative to implement an (maintenance and repair) platform to provide this important set of customers with the world class service and on-time delivery that our original equipment manufacturer customers have experienced for decades,” Snyder said in a prepared statement.
The deal is expected to close during the third quarter or the beginning of the fourth quarter.
Mark R. Madler