US-based investment powerhouse KKR has announced plans to buy Novaria Group, a fast-growing US company that makes bolts, brackets, fasteners, and other aircraft parts.
According to a 25 November news release, KKR will acquire Novaria from two smaller investment firms, Rosewood Private Investments and Tailwind Advisors.
The transaction is expected to close by the first quarter of 2020. Terms were not disclosed.
As it has done at other industrial companies in its portfolio, KKR intends to allow Novaria’s employees to share in their company’s ownership, which it believes will increase workforce engagement and produce better results.
Founded in 2011, Novaria is headquartered near Fort Worth, Texas, and has more than 500 customers.
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