GEORGETOWN, Texas, 12 Jan. 2012. AirBorn Inc., a manufacturer of electronic components for the aerospace, avionics, defense, energy, medical, and automotive industries, has acquired AESCO Electronics, a full-service electronics manufacturer and distributor with divisions in Ohio and Massachusetts. With the acquisition, AirBorn is forming AirBorn Electronics Inc., a new division headed by AESCO President Roger Engle that will focus on providing value-added products and services to high-reliability commercial markets. AirBorn is gaining higher levels of contract manufacturing, design, and distribution capabilities, says a representative.
"AESCO is an outstanding company with a long history of providing high-quality design and manufacturing services to its customer base," says Cindy Lewis, CEO of AirBorn. "At a time when U.S. defense budgets are projected to continue declining over the next decade, this acquisition will complement our current business, build new opportunities and significantly advance our vision of providing value added solutions to our customers."
By adding 300 employees from AESCO, AirBorn will increase its employee base by 30 percent, to approximately 1400 employees. The acquisition of AESCO also increases AirBorn's bottom line. Combined sales for AirBorn are approximately $160 million.
"With AirBorn's strong position and history in defense markets, we see an acceleration of our long-term market growth plans. We are very much looking forward to becoming an important part of the AirBorn team," says Roger Engle, president of AESCO.
Terms of the deal were not disclosed.