Magnetic Seal Corporation, owned by Ducommun Inc, makes seals for military and commercial aircraft. (Magnetic Seal Corporation)
US-based Ducommun Inc has strengthened its position in “niche engineering products” by acquiring Magnetic Seal Corporation (MagSeal), which makes magnetic seals for military and commercial aircraft, Ducommun announced on 16 December.
Ducommun is paying USD69.5 million for MagSeal, which was founded in 1954 by George Colby and Robert Stevenson and remained owned by the Colby family until the acquisition.
Based in Warren, Rhode Island, MagSeal provides seals for such military aircraft as AH-64 Apache and CH-53K helicopters, F-15 and F-18 fighters, and C-130 transports.
Stephen Oswald, Ducommun's chairman, president, and CEO, said the acquisition continues “our strategy of adding high value-added [aerospace and defence] engineered products with recurring aftermarket to our portfolio”. Ducommun acquired ammunition handling systems provider Nobles Worldwide in 2019 and lightning protection company Lightning Diversion Systems in 2017.
MagSeal president Robert Garde said that joining a larger enterprise like Ducommun will help his company accelerate its growth. MagSeal has fewer than 100 employees, while Ducommun has about 2,500 after the acquisition.
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