March 23, 2015
The Loar Group today announced it has acquired SAF Industries, LLC (dba GarKenyon), a leading designer, manufacturer, and supplier of precision components used in hydraulic and pneumatic systems across the aircraft. Headquartered in Meriden, Connecticut (USA), GarKenyon designs and manufactures valves, manifolds and actuators for landing gear, flight controls, engine / fuel controls and other hydraulic and pneumatic systems for the commercial aerospace, business jet, general aviation and defense markets. Today over 95% of GarKenyon’s revenues are from proprietary products. The business will continue to operate as GarKenyon.
Speaking on behalf of the Loar Group, Dirkson Charles (Chief Executive Officer) said, “We are excited about the addition of GarKenyon to the Loar Group family of companies. The combination of Loar’s aerospace experience, entrepreneurial spirit, and resources with GarKenyon’s deep experience in hydraulic, pneumatic and electromechanical components will result in a stronger enterprise that is better positioned to serve our customers. The addition of GarKenyon’s highly engineered and proprietary products will also allow us to improve our solutions-based engineering approach to assisting Loar’s customers. We are focused on bringing our resources to bear to position GarKenyon to invest in new platforms, and we look forward to continuing to work with GarKenyon’s strong group of blue-chip aerospace customers.”
Steve Fournier, Chief Executive Officer of GarKenyon said, “I am very pleased to transition ownership and management of GarKenyon to the Loar Group. Loar is an outstanding organization with a strong track record of driving growth of its business units while working together with its customers to provide high quality aerospace components. I look forward to watching GarKenyon continue to grow under the leadership of the Loar management team.”
The Loar Group is a diversified manufacturer and supplier with established relationships with leading aerospace and defense OEMs worldwide. Its mandate is to create a strategic global alliance of companies specializing in the design and manufacture of aerospace and defense components. Loar provides its partners and customers with innovative, cost-effective capabilities and responsive, dependable service, leading to profitable and sustainable long-term relationships. The Loar Group is an affiliate of JLL Partners, Inc.
JLL Partners is a middle-market private equity firm with a 27-year track-record of adding value to complex investments through financial and operational expertise. Since its founding in 1988, JLL Partners has committed approximately $4.4 billion across six funds. The firm has developed significant expertise in sectors including aerospace, healthcare, building products, financial services, and business services.For more information, please visit www.jllpartners.com
For more information please contact Mr. Dirkson Charles at dirksoncharles@loargroup.com or visit our company websites: www.loargroup.com and www.garkenyon.com
