Novaria acquires Ferco Tech, L&E Engineering and GGF Manufacturing

Fort Worth-based Novaria Group announced the acquisition of substantially all the assets of Ferco Tech, L&E Engineering, and GGF Manufacturing. The three business units, collectively operating as Ferco Aerospace, supply the world’s largest aircraft engine manufacturers with high-strength and temperature-resistant brackets, tube assemblies, and other exotic metal fabrications. These acquisitions are highly complementary to Novaria’s current businesses. Earl Larkin, Novaria executive vice chairman and co-CEO, stated, “Ferco Tech, L&E and GGF enable us to establish a third platform that focuses on higher-level assemblies and products requiring welding and unique fabrication. Novaria Component Solutions (NCS) will serve as a key platform that furthers business unit interaction and market diversification. Novaria Group Vice President of Operations, Mike Wagner, will serve as the interim president of NCS.” A privately held business, Ferco Aerospace and its three operating units have operations dating back to 1953. The businesses bring additional combined manufacturing space of more than 120,000 ft² with 225 highly skilled employees. Ferco Tech, L&E Engineering, and GGF Manufacturing will continue manufacturing operations in Dayton, Ohio; Indianapolis, Indiana; and Jamestown, Kentucky, respectively. Brady Ware Capital, LLC served as the exclusive financial advisor to Ferco in connection with the sale transaction.