Avantus Adds to Aerospace Fastener Portfolio

 Avantus Aerospace has acquired Fastener Innovation Technology Inc., a Rancho Dominguez specialty fastener manufacturer for military and commercial aircraft. Financial terms were not disclosed.Santa Clarita-based Aventus said the transaction is a natural fit with the other companies in its portfolio, including Lamsco West, also in Santa Clarita, and Fastener Technology Corp., in North Hollywood and acquired by Avantus last December.Chief Executive Brian Williams said that the Fastener Innovation Technology team has built a specialty business with an excellent reputation.“Our combined strength will allow us to better serve our customers,” Williams said in a statement. “We look forward to making further acquisitions that complement our existing product and geographic offering.”Fastener Innovation Technology was founded in 1979 and has grown to supply parts used in 25 aircraft. The existing management team, including Chief Executive Larry Valeriano, will continue to operate and grow the business under the guidance of Avantus Fastener President Dennis Suedkamp.“We look forward to enhancing our combined technical and manufacturing resources, while also supporting the development of our employees and the success of our customers,” Suedkamp said in a statement.Avantus is owned by Inflexion, a London-based mid-market private equity firm, and Auctus Industries, an investor in aerospace businesses also headquartered in London.