Avantus Aerospace has sold two of its structural composite companies to an Arizona private equity firm.
Additionally, the Santa Clarita manufacturer sold a Mexican composite parts company it owned to Groupe Latécoère, headquartered in Toulouse, France.
The subsidiary sale continues Avantus’ transformation into a pure-play C-Class parts manufacturer by divesting itself of non-core composite business lines, it said in a release.
Two companies, Performance Plastics Inc. in San Diego and Angeles Composites Technologies Inc. in Port Angeles, Wash., were sold to JW Hill Capital, a Scottdale, Ariz. private equity firm. The third company SdM Composites, in Hermosillo, Mexico, was sold to the French aerospace components manufacturer.
Brian Williams, chief executive of Avantus, said the company is focused on growing its core businesses and capabilities.
“We’re certain that the new homes for our composites companies will likewise give them exceptional focus for growth and expansion,” Williams said in a statement.
John Hill, managing partner at JW Hill, said the firm was excited about partnering with the executive leadership of Performance Plastics and Angeles Composites to build on those companies’ legacies.
“These acquisitions diversify our aerospace portfolio into the growing composite aerostructure segment,” Hill said in a statement.
Avantus is owned by Inflexion, a London-based mid-market private equity firm, and Auctus Industries, an investor in aerospace businesses also headquartered in London. It provides shims, detailed parts, specialty fasteners, precision machining and elastomer gaskets to the aerospace and semiconductor industries.