August 16, 2017
The Loar Group Announces the Acquisition of Maverick Molding
The Loar Group (Loar) announced today that it has acquired Maverick Molding Co. (Molding or the Company), a leader in high temperature polymer composites to the aerospace and aero derivative end markets.
Headquartered in Blue Ash, Ohio (USA) Molding designs and manufactures high temperature-resistant bushings, washers, and thermal insulators with significant content on a number of the next generation aerospace engines, including the LEAP (B737Max and A320 Neo) and the GE9X (B777X) engines. They also own meaningful intellectual property related to the design and manufacture of their products including the underlying resins and molding compounds. Approximately 50% and 25% of revenues are for the commercial and military aerospace end market, respectively. As with other Loar companies, the business will continue to operate under its current brand as Maverick Molding.
“Through the acquisition of Molding, we have added the capability to produce specialty products that can withstand temperatures of up to 700 degrees Fahrenheit therefore making us one of two vertically integrated suppliers with the combination of design and production capabilities to meet the stringent aerospace industry requirements for these products” stated Dirkson Charles, CEO of Loar Group. Mr. Charles continued “that Molding will enhance our engineered solutions skillset in polymer design and development allowing us to offer our customers even more unique friction and temperature resistant solutions than we do today”.
Eric Collins, CEO and one of the founders of Molding, stated “over the years the Company has evolved into a global leader in high performance composites through its commitment to innovation, technical expertise and operational excellence. Therefore, we searched for a partner with a similar culture and we are pleased to have found Loar which has been built on a similar commitment.” Mr. Collins further added that we are pleased to transition ownership and management of Molding to Loar and look forward to an exciting future.”
Loar Group is a diversified manufacturer and supplier with established relationships with leading aerospace and defense OEMs worldwide. Its mandate is to create a strategic global alliance of companies specializing in the design and manufacture of aerospace and defense components. Loar provides its partners and customers with innovative, cost-effective capabilities and responsive, dependable service, leading to profitable and sustainable long-term relationships.
For more information please contact Mr. Dirkson Charles at firstname.lastname@example.org.