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Industry News
FOR IMMEDIATE RELEASE
March 6, 2009
We are very excited to announce the addition of Amphenol Aerospace to the Airtechnics (Wesco Aircraft Hardware) product portfolio.
The franchise agreement signed with Amphenol Aerospace covers their broad range of cylindrical connector products, MIL-C-5015 (solder and crimp), MIL-C-26482 I & II, MIL-C-38999 I, II & III and MIL-C-83723 III as well as their module and socket products, MIL-C-81714 and MIL-S-12883. This agreement authorizes Airtechnics to be an authorized VAD (value-add distributor) of their products, giving Airtechnics the ability to be reactive to our customers needs with short turnaround times on complex connector assemblies and off the shelf sales of their component (direct ship) products. This agreement encompasses all of the Amphenol Aerospace brand names that are synonymous within the industry; Amphenol, Amphenol PCD, Amphenol RF, “Bendix”, Matrix, Nexus and Pyle National.
Airtechnics is in the process of finalizing and issuing a significant stocking package with Amphenol Aerospace. Details will be released as they become available.
June 9, 2008
Wesco Aircraft Hardware Corp. to Acquire Airtechnics, Inc.
Valencia, CA – Wesco Aircraft Hardware Corp. today announced that it has reached a definitive agreement to acquire Airtechnics, Inc., a value-added distributor of electrical components to the aerospace industry. The transaction is expected to close on or about June 30, 2008, subject to closing conditions. While financial terms were not disclosed, Wesco intends to raise proceeds under the accordion feature of it existing credit agreement in connection with the acquisition.
Founded in 1957 and headquartered in Wichita, KS, Airtechnics is a value-added distributor of electromechanical and interconnect products. Airtechnics offers more than 32,000 SKUs comprising relays, switches, circuit breakers, lighted products, connectors and accessories. Airtechnics currently serves more than 2,500 customers including many of the major aerospace original equipment manufacturers and suppliers and employs more than 150 people. Following the transaction, current senior management, including President Christina Kukuruda, will continue to lead the business.
Airtechnics’ Chairman and Chief Executive Officer Ronald D. Mann, said, "We have successfully built a $100 million aerospace leader over the past 50 years, which has evolved since my father's original formation as a small general aviation manufacturers' rep firm. I have followed Wesco's successes over the years and believe this will be a great strategic fit. Wesco's commitment to the Wichita headquarters and community will benefit the venture." Airtechnics is privately held by Mr. Mann.
Airtechnics President Christina Kukuruda said, "We look forward to partnering with Wesco as Airtechnics enters an exciting phase of its evolution. Wesco has an excellent track record of growth and a strong commitment to customers, suppliers, and employees, which is consistent with Airtechnics’ values and aligns with the Mann family legacy. Our strategic focus will continue to be on providing our customers with superior levels of service and quality and to further integrate ourselves into their supply chain."
Wesco President and Chief Executive Officer Randy Snyder said, "This transaction is a compelling next step forward in Wesco’s evolution. The addition of Airtechnics’ product lines will create a center of excellence in electrical products, allowing us to further support our customers with a broader product offering, while continuing to provide our customers with superior levels of product quality and on-time delivery. We look forward to working with Christina Kukuruda, the management team, and employees to continue to grow the combined business. We see considerable opportunity for growth and with our combined talented workforce we believe Wesco will thrive in the coming years."
