Hagan: 2007 Fastener Acquisitions Off to Strong Start
Hagan: 2007 Fastener Acquisitions Off to Strong Start
John Wolz
After a banner year in 2006, fastener company acquisitions are off to a strong pace in 2007, Richard Hagan finds.
“In February Precision Castparts expanded its aerospace fastener manufacturing with the purchase of Cherry Aerospace LLC for $300 million in cash,” noted the president of NY-based Pinnacle Capital Corporation.
Other major fastener acquisitions, either completed or announced, so far this year include the purchase of FastenTech Inc. by Doncasters Group Limited for $492 million; the acquisition of Koninklijke Nedschroef Holding NV by Gilde Buy Out Partners for EUR 279 million; (US$376 million); the purchase of McKechnie Aerospace by JLL Partners for $855 million; and the merger of Lone Star Fasteners LP and PRD Holdings Ltd. in a transaction valued at $150 million.
Details of Hagan’s 10th annual Top Ten Acquisitions will be provided to FIN and FastenerNews.com subscribers this week.
Pinnacle Capital is a New York investment banking firm specializing in fastener company acquisitions. Tel: 212 267-8200 E-mail: rphagan@pinnaclecapitalcorp.com �2007 FastenerNews.com
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