WELLINGTON, Fla.--(BUSINESS WIRE)--KLX Inc. (“KLX” or the “Company”) (NASDAQ: KLXI), a leading distributor and value-added service provider of aerospace fasteners and consumables, has announced that it is acquiring the assets of John Hassall, LLC’s laboratory operations. John Hassall is a wholly owned division of Novaria Group.
Specifically, KLX will be acquiring the Laboratory Controlled at Source (LCS) lab assets and expert technical personnel associated with managing the lab. This acquisition further supports KLX Aerospace Solutions’ focus on providing Engine and Engine-related customers with differentiated and industry leading services to support their unique product and quality requirements. These newly acquired capabilities will allow KLX to provide the additional required testing to support the strict quality requirements of this customer base.
John Cuomo, Group Vice President and General Manager for KLX Aerospace Solutions, says, “Acquiring the laboratory operations of John Hassall will allow KLX to better support the entire Engine manufacturing market. This allows KLX to ensure the highest level of product quality with the flexibility to assist our customers with new part approval from our global supplier base. We will save our customers time and money, while ensuring adherence to the highest quality of the products.”
Novaria Group is a diversified manufacturer of fasteners and critical components used exclusively in aerospace and military markets. As part of the laboratory sale to KLX, both parties have formed a strategic partnership, wherein KLX has exclusivity on certain product lines manufactured by Novaria, as well as production capacity and preferred pricing for certain products and programs.
Bryan Perkins, CEO of Novaria Group, said, “This transaction and strategic partnership deepens Novaria’s exposure to a multitude of aerospace programs, while providing KLX greater sourcing optionality and access to Novaria’s proprietary suite of products and capabilities. It is a true win-win for both Novaria and KLX.”
KLX Inc., through its two operating segments, provides mission critical products and complex logistical solutions to support its customers’ high value assets. KLX serves its customers in demanding environments that face high cost of downtime and require dependable, high quality just-in-time customer support. The Aerospace Solutions Group is a leading distributor and value-added service provider of aerospace fasteners and consumables offering the broadest range of aerospace hardware and consumables and inventory management services worldwide. For more information, visit the KLX website at www.KLX.com.
About Novaria Group
Novaria Group is a cohesive family of precision component subsidiaries that consistently delivers optimum performance and sustainable growth within the aerospace and defense marketplace. For more information about Novaria Group, please visit www.novariagroup.com.