City of Fort Worth
Novaria Group, a leading manufacturer of specialty hardware for the aerospace and defense industries, announced Tuesday that it has agreed to acquire FMi Chemical, Inc., a supplier of nonmetallic aerospace sealants, compounds and coatings for aircraft manufacturing and maintenance, according to a news release.
The acquisition is Novaria’s second in the past month, according to company officials, and eighth since June 2020. The transaction is scheduled to close in May. Terms of the deal were not disclosed.
FMi is a supplier to leading aircraft equipment and maintenance facilities worldwide. Their products consist of proprietary heat-resistant silicone sealants, nonmetallic sealants, compounds and coatings from industry-leading brands. In addition to manufacturing, FMi prides itself on custom packaged materials, accredited testing, short lead times and high-quality, reliable service.
“The acquisition of FMi is an exciting step as we continue to diversify and strengthen our supply of high-quality, material science-based components and services that are vital to our customers,” says Novaria CEO Bryan Perkins in a statement. “FMi’s superb reputation and service are a perfect fit for our portfolio of offerings, and we welcome them to the Novaria family.”
At closing, Novaria will purchase FMi from its current owner, Harry Fine. FMi will continue to operate out of Bloomfield, Connecticut under COO Nancy Daigle.
“We’re thrilled to be taking a new step forward with our partners at Novaria,” Daigle says.
Adds Novaria CFO Justin Tucker: “FMi Chemical, including its proprietary products and flight-critical sealing and abradable solutions, will be a valuable addition to Novaria. We look forward to building on the strong foundations of FMi and combining it with Novaria’s family of aerospace and defense-focused businesses.”