FMI Aerostructures Acquired by Endeavour Capital
Endeavour invests in new aerospace platform focused on enhancing the efficiency and capacity of the Aerospace & Defense supply chain for critical components and assemblies.
VALENCIA, Calif., Aug. 10, 2021 /PRNewswire/ -- Endeavour Capital ("Endeavour") is pleased to announce the acquisition of Forrest Machining, Inc. ("Forrest", "FMI Aerostructures" or "The Company"). Based in Valencia, CA, FMI Aerostructures is a leading manufacturer of critical structural components and assemblies for the aerospace and defense industry. With 230,000 square feet under roof and over 130 active spindles, FMI Aerostructures is one of the largest independent A&D manufacturing businesses in North America. The Company specializes in hard metal components, large aluminum structures, and complex assemblies and is proud to serve key A&D customers such as Lockheed Martin, Northrop Grumman, Boeing, Spirit AeroSystems, PPG Aerospace, and many more.
"FMI presents a unique opportunity to partner with an industry leader in a critical link of the aerospace supply chain. By continually investing in new capabilities, capacity, and its workforce, Forrest is well positioned to build off its longstanding reputation as a key solutions provider to its customers," commented Derek Eve, Principal at Endeavour Capital. "Our mission is to create a stronger supply chain for critical structures through value added partnerships with our customers and delivering the best overall value in terms of quality, delivery, and service. We are honored and excited to advance the legacy that Bob and Joanne Butler and the employees at FMI have built over the past 30 years," added Tim Mickael, CEO of FMI Aerostructures.
The new ownership group is committed to operational excellence through continuous improvement, developing and engaging its workforce, and investment in state-of-the-art equipment and systems. As part of the transaction, Tim Mickael joins the company as CEO and all other managers have been retained.
About Forrest:
Founded in 1978, Forrest has a long reputation as a key supplier for the aerospace and defense industry. With over 240 employees, Forrest's full-service capabilities include complex machining up to 6-axis and parts up to 160 feet, advanced assembly, sheet metal fabrication, and forming. Forrest has invested in the latest programming and inspection equipment and performs in-house rapid prototyping, NC programming, complex tooling design and build, CMS, and laser calibration and inspection.
About Endeavour:
Endeavour Capital was founded in 1991 to be a patient source of capital and long-term partner to leading private businesses and management teams. Today, Endeavour Capital is investing its eighth fund and has offices in Los Angeles, Portland, Seattle, and Denver. Endeavour invests in Western U.S. based, companies in partnership with founders, family owners and executives. The firm acts as partners and stewards, to help companies and their owners realize their potential, while preserving legacy and culture.
Media Contact: Mia Thom, [email protected]
SOURCE FMI Aerostructures
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