Newly Formed Stronvar Aerospace Announces Acquisition of Electro Methods Inc.

Newly formed Stronvar Aerospace is pleased to announce its acquisition of Electro Methods Inc. (EMI) from privately held owners. Led by CEO Craig Gallagher (former founder and CEO of MB Aerospace) and CFO Gregor Goodwin (former CFO of MB Aerospace), Stronvar has a strategic plan to build a high-performing group serving the aero-engine supply chain.

This acquisition marks a new chapter for EMI as Stronvar invests into the business to support its exciting growth trajectory in support of its original equipment manufacturer (OEM) customers and to help EMI expand its capabilities, increase capacity and further develop its highly skilled workforce in partnership with EMI’s existing management team. As part of the acquisition, Bill Soucy will step up to become EMI’s President and General Manager while President Randy Fries will transition to become Vice Chairman of EMI, ensuring continuity and continued focus on operational excellence.

Headquartered in South Windsor, Connecticut, EMI specializes in the fabrication of high-value assemblies using exotic aerospace alloys for aero engine OEMs. The company employs 230 dedicated professionals and deploys a significant array of welding, machining and special process technologies on its purpose-built campus. EMI’s investment in its fully integrated manufacturing processes has given it a reputation for operational excellence in the production of ultra-high-performance components for next-generation Commercial and Defense engine platforms.

Stronvar Aerospace will be supported with an investment from Blackstone’s private equity strategy for individual investors, leveraging Blackstone’s expertise in the sector and strong history in scaling high-performing enterprises.

Craig Gallagher expressed his excitement for the venture: “We are delighted to complete the acquisition of EMI as a cornerstone of the Stronvar platform, and to partner with Blackstone again. Under Randy and Bill’s leadership EMI has become renowned for its exceptional performance and technical expertise. EMI is trusted by leading OEM customers to manufacture some of the most complex assemblies in the industry, and our goal here is to build on the high-performance culture and exceptional engineering quality signature with which they do that. We look forward to working with Randy and Bill to build out this world-class company.”

Nick Kuhar of Blackstone said: “We see tremendous growth opportunities ahead in the aero engine supply chain for scaled and highly capable companies that can provide innovative engineering, operational excellence and world class customer service. We believe EMI is exceptionally well positioned to capitalize on this, and we are excited to support Stronvar and EMI management to propel the company forward.”

Randy Fries said: “Stronvar’s cultural fit with EMI and its plans to invest behind our growing orderbook and expand the customer offering is exactly what we envisioned for the company as we considered how best to support the next stage of growth. The team in South Windsor, CT and our customers can look forward to a bright future under Stronvar’s stewardship.”

Bill Soucy added: “I am delighted to be stepping up the role of President & General Manager at EMI after working alongside Randy for a large part of his 40+year executive tenure. I am excited to be leading the team here at EMI and ensuring that we execute the growth in front of us. I also welcome the experience and resources that Stronvar and Blackstone will bring to help make this business even better.”

Simpson, Thacher & Bartlett served as legal counsel to Stronvar and Blackstone. Lazard acted as financial advisor to Blackstone. Reid & Riege served as legal counsel to Electro Methods.