ACQUISTITIONS: LISI/Monadnock; CDP/Positive Components

Jason Sandefur

LISI Buys Monadnock
LISI Industries of France acquired aerospace fastener manufacturer Monadnock Co. of California.
LISI now owns two U.S. aerospace fastener manufacturers. Hi-Shear Corp. of Torrance, CA, is LISI�s subsidiary that acquired Monadnock.
Gregory Range, a managing director of investment banker Duff & Phelps LLC, predicted there will be more cross-border deals in the aerospace industry.
Monadnock was founded 15 years ago and manufactures high-strength fasteners for aircraft structures. It was owned by an investor group and management, including CEO Marty Cohen.
LISI was known as GFI Aerospace until a name change earlier this year. LISI is a publicly owned company based in Paris, with annual revenue of $540 million. Most of its revenue is from fasteners.
In addition to Hi-Shear, LISI owns Blanc Aero Industries, a supplier of a range of products from standard screws, nuts and bolts to critical parts, solid rivets and turbine tie-rods, Eurofast, a European distributor to the global aerospace market, and Blanc Aero Technologies, a supplier of specialty fasteners for Formula 1 racing. LISI also supplies the automotive industry through its threaded assembly components and clip assembly components divisions, and provides packaging products for the cosmetics industry.
�As the commercial aerospace industry continues to rebound from the effects of September 11, cross-border transaction activity such as this one will accelerate as suppliers consolidate in order to reduce costs and meet customers� demands on a global basis,� Range said.
Web: lisi-group.com/uk/index.htm and monadnock.com and hi-shear.com
CDP Acquires Positive Components
CDP Fastener Group Inc. acquired Brockton, MA-based Positive Components Corporation, CDP vice president Paul Wagner announced.
The move allows CDP to diversify its customer base to include commercial clients, Wagner told FIN. Founded in 1993, the company has primarily served military markets, with 13 employees and annual sales of about $5 million. CDP is ISO 9002.
CDP also added a 2,500 sq ft packaging and kitting area to its 12,500 sq ft facility.
CDP is a Small Business Association-certified minority-owned fastener distributor located at 15 Jonathan Drive, Unit 6, Brockton, MA 02301. Tel: 508 588-6400 Fax 508 580-1307 E-mail: paulw@cdpfastener.com Web: cdpfastener.com �2002 FastenerNews.com