GEORGETOWN, Texas -- AirBorn Inc., a Texas-based manufacturer of electronic components and provider of value-added solutions for multiple industries, today announced the acquisition of AESCO Electronics, a full-service electronics manufacturer and distributor with divisions in Ohio and Massachusetts.
AirBorn, a leading manufacturer of electronic components for the aerospace, avionics, defense, energy, medical and automotive industries, is acquiring AESCO in a strategic move toward growth, diversification and increased offerings and capabilities.
With the acquisition, AirBorn is forming a new division to be called AirBorn Electronics, Inc., headed by AESCO president, Roger Engle. The new division will focus on providing value-added products and services to high reliability commercial markets such as medical, instrumentation and industrial controls. Terms of the deal were not disclosed.
AirBorn believes its current customers will be very excited about AirBorn gaining higher levels of contract manufacturing, design and distribution capabilities.
"AESCO is an outstanding company with a long history of providing high quality design and manufacturing services to its customer base," said 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% to approximately 1400 employees. The acquisition of AESCO also increases AirBorn's bottom line. Combined sales for AirBorn are approximately $160 million.
