Precision Castparts could add another aerostructures supplier after agreeing to buy Aerospace Dynamics International (ADI) from The Marvin Group for $625 million.
The acquisition of the Valencia, California, supplier to aerospace firms such as Airbus marks the 12th acquisition in 15 months by Precision Castparts.
ADI employs about 625 people and specializes in large complex components, hard metal machining and critical assemblies. It has a “a significant presence on the Airbus A350”, according to Precision Castparts.
"ADI is an acquisition we have pursued for several years," said Mark Donegan, chairman and chief executive officer. "They have invested in world-class facilities and developed large part capabilities that will expand our aerostructures product offering and role on next-generation aircraft.”
Precision Castparts expects to close the cash deal in the first quarter of fiscal 2015.