Ontic Announces Acquisition of Firstmark Corp.
Ontic, a BBA Aviation company and aerospace industry’s leading provider of ‘Extended Life Solutions’ for Original Equipment Manufacturer (OEM) legacy products, is pleased to announce the acquisition of Firstmark Corp (“Firstmark”), an aerospace focused aftermarket service provider.
Firstmark is a leading provider of highly engineered, proprietary components and subsystems for the aerospace and defense industries. The company employs over 70 people and has locations in Creedmoor, North Carolina and Plainview, New York and will expand Ontic’s US footprint to the East Coast, closer to key OEM partners and customers. It will be highly complementary to Ontic’s existing sites in Chatsworth, California; Cheltenham, in the United Kingdom and Singapore.
The acquisition enhances Ontic’s exposure to the commercial and military aerospace markets, providing access to a range of growth opportunities across various established strategic platforms, with a significant installed base, high utilization rates and extended in-service lives.
Gareth Hall, President and Managing Director of Ontic, said “We are excited that we have reached an agreement to acquire Firstmark. The acquisition confirms Ontic’s commitment to support our customers, by adding manufacturing and MRO Service capabilities on the US East Coast. Firstmark is an ideal fit for Ontic with their high quality portfolio of products supporting civil and military aircrafts.”
The acquisition is subject to certain governmental and regulatory approvals and is expected to complete in late 2018. This will enhance Ontic’s global legacy focus currently supported from manufacturing and MRO facilities in Chatsworth, California; Cheltenham in the United Kingdom; and in Singapore.
Ontic is a wholly owned subsidiary of BBA Aviation plc, with over 44 years of aerospace product manufacturing and aftermarket support experience. Ontic provides FAA, CAAS, CAAC, TCCA, DCA, EASA Part 21 and 145 OEM support, including new and serviceable spares and repairs for over 6,500 maturing and legacy aircraft parts. Its portfolio of products, licensed or acquired from major OEMs such as Honeywell, UTC Aerospace, Safran, Thales and GE Aviation, span all major aircraft systems in both civil and military markets. For more information, please visit www.ontic.com.
BBA Aviation plc is a market leading, global aviation support and aftermarket services provider, primarily focused on servicing the Business and General Aviation (B&GA) market. We support our customers through three principal businesses: Signature Flight Support and Signature TECHNICAirTM which provide premium, full service flight and home base support including refuelling, ground handling and MRO services through the world’s largest fixed base operation (FBO) network for B&GA users with around 200 locations covering key destinations in North America, Europe, South America, Caribbean, Africa and Asia. Ontic is a leading provider of high-quality equipment and cost-effective solutions for the continuing support of maturing and legacy aerospace platforms with locations in the USA, Europe and Asia. Engine Repair & Overhaul (ERO)/Global Engine Services is a leading independent engine service provider to global B&GA operators, the rotorcraft market and regional airline fleets with locations in the USA, Europe, South America, Asia and the Middle East.
On 1 March 2018 BBA Aviation announced that it was conducting a strategic review of the ERO business and, at the end of May 2018, management committed to a plan to sell substantially all of the business and the relevant assets and liabilities were classified as held for sale.
For more information, please visit www.bbaaviation.com.