Wesco Aircraft Holdings to buy Interfast
Wesco Aircraft Holdings Inc., a provider of supply chain management services to the global aerospace industry, has agreed to acquire Interfast Inc. for $134 million Canadian.
Interfast is a Toronto-based distributor of specialty fasteners, fastening systems and production installation tooling for the aerospace, electronics and general industrial markets. Interfast has a global presence working with both OEM and MRO businesses to deliver fastener-based solutions for a broad base of applications.
“We are excited about the acquisition of Interfast, which we believe will accelerate our growth across North America and Asia and strengthen our relationships with several strategic aerospace customers. This highly complementary acquisition will also allow us to broaden our product portfolio to include new lines such as specialty industrial products,” said Randy Snyder, Wesco’s chairman, president and chief executive officer.
He added that the transaction will support initiative to implement an MRO platform to provide customers with service and delivery that OEM customers have experienced for decades. "We believe that Wesco is well situated to capitalize on the expected growth in our industry and our acquisition of Interfast will create additional growth opportunities,” said Snyder.
The company expects the acquisition to close toward the end of its fiscal third quarter or the beginning of its fiscal fourth quarter, subject to customary closing conditions.
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