Magellan buys aerospace processor Lawrence Ripak for US$23.7M
Company says new unit will complement existing facilities in Europe, India
TORONTO—Magellan Aerospace Corp. is building out its U.S. processing capabilities with a US$23.7 million acquisition. The company said it has acquired all assets of Lawrence Ripak Co. Inc. and Ripak Aerospace Processing LLC through a wholly-owned subsidiary.
“The acquisition of Ripak establishes a North American capability in processing that adds capacity and is complementary to Magellan’s existing processing facilities in the UK, Poland and India,” Phillip Underwood, Magellan’s president and CEO, said.
Ripak has been in business since 1952, and provides a range of non-destructive test services, anodizing, plating, painting shot peening, as well as other aerospace parts processing services. It operates a 97,500 square-foot facility and employs appropriately 150.
“This acquisition provides Magellan control over a comprehensive processing facility in the U.S., helping to secure a critical supply chain for our customers in the north eastern region of the United States,” Underwood said. “In addition it allows for the potential introduction of additional capabilities and applications, as our business continues to evolve.”
Magellan said it intends to continue operating the company under the Ripak trade name as an independent division.