WELLINGTON, Fla.--(BUSINESS WIRE)--Jul. 16, 2018--
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
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180716005771/en/
Source: KLX Inc.
Michael Perlman, 561-791-5435