Shimtech Industries announced Monday that it has acquired Fastener Technology Corp. (FTC), a North Hollywood based supplier of high-strength specialty fasteners for commercial and military aerospace applications.
 
FTC was founded by Bulent Gulistan in 1979 and has built a reputation as an innovative and reliable supplier serving more than 400 customers. Some customer relationships span multiple decades, including those with Lockheed Martin, Click Bond, Northrop Grumman, Boeing, Raytheon, and Wesco. The existing management team, led by President Dennis Suedkamp, will continue to operate and grow the business, now aided by Shimtech's additional group resources.

Shimtech is owned by Inflexion Private Equity and Auctus Industries. With headquarters in Santa Clarita (CA), its aerospace divisions include four manufacturing facilities in the US, three in Europe and one in Mexico. Their C-Class Components Division specializes in the manufacture of high-volume metallic and Downloadcomposite detailed components which are complementary with FTC's fastener products. This Division includes such well-respected companies as Lamsco, Attewell, and Bolsan which, together with FTC, will continue providing high-quality, on-time components to the commercial and military aerospace markets.

Dennis Suedkamp commented: "FTC is well-placed to capitalize on the significant growth opportunities that lie ahead. We are delighted to be partnering with Shimtech at this next stage of our development and look forward to providing innovative products with enhanced manufacturing capacity, while still supporting the development of our employees and the success of our customers."

Brian Williams, CEO of Shimtech said: "The FTC team has built a fantastic business with an unrivalled reputation. We are excited about the complementary nature of our products and look forward to building on Mr Gulistan's foundation as we serve our customers and take our business to the next level."

Source: Industrial Distribution