Los Angeles Business Journal

Wesco Completes Acquisition of Aircraft Parts Firm

By Deborah Crowe Friday, July 6, 2012

Wesco Aircraft Holdings Inc. has completed its acquisition of substantially all of the assets of Interfast Inc.

Interfast is a Toronto distributor of specialty fasteners and other parts to the aerospace, electronics and industrial markets. Wesco, a Valencia aerospace parts supplier, said the deal was paid for with a combination of cash and borrowings under its revolving credit facility.

The completion of the deal, valued at about $130 million, was announced late Thursday.

“We believe this transaction will accelerate our global growth, strengthen our relationships with several strategic aerospace customers, and support our initiative to implement a new (maintenance, repair, and overhaul) platform,” Chief Executive Randy Snyder said in a statement.

The acquisition was first announced in May. Wesco expects to provide guidance on the financial impact of the deal at its fiscal third quarter earnings release.

Shares were down 2 cents, or less than 1 percent, to $12.91 in midday trading on the New York Stock Exchange.