1/21/2015 11:52:00 AM
NEWS BRIEFS
John Hassall Acquired by Novaria Group

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Fort Worth-based Novaria Group acquired the assets of aerospace and industrial fastener manufacturer John Hassall Inc. in Long Island, N.Y.

The deal comes months after John Hassall, the company that manufactured fasteners for the airplane that Charles Lindbergh flew solo across the Atlantic, filed for Chapter 11 bankruptcy protection.

The company had assets of $8.5 million and liabilities of nearly $5.5 million, according to an affidavit filed by then-CEO Theodore B. Smith III. (see FIN May 20, 2014)

John Hassall reportedly tried to sell itself in 2013 but was unable to find a buyer.

Novaria Group, the aerospace investment platform of Rosewood Private Investments and Tailwind Advisors, has formed a new entity, John Hassall LLC, which operates all of the assets of John Hassall Inc. The company will continue doing business as John Hassall. 

John Hassall LLC becomes part of Novaria’s Class-C Hardware Platform, led by Monty Gillespie.

“We believe there are opportunities to work with the platform’s customers, suppliers and employees to remain a competitive force in our markets,” Gillespie stated.

John Hassall will continue to operate in its current 65,000 sq ft facility in Westbury, N.Y., at 609-1 Cantiague Rock Road. 

Novaria Group said it will improve operations and expand the capabilities of John Hassall.

John Hassall specializes in the cold heading, hot forming, thread rolling, heat treatment, and metallurgical testing of specialty fasteners used in the hot section of aircraft engines. The company’s roots date back to 1850 when it obtained the first U.S. patent for an automated fastener manufacturing machine, currently housed in the Smithsonian museum. Web: hassall.com

Novaria Group holdings include Fitz Aerospace and Weatherford Aerospace. Web: novariagroup.com

For more on John Hassall, visit the Fastener History section of GlobalFastenerNews.com.
2007 FIN – John Hassall Forms Alliance With Indux in Mexico

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