Dallas, Texas, October 15, 2014 - Rosewood Private Investments ("RPI") is proud to announce its recent partnership with Novaria Group, LLC ("Novaria"), a Fort Worth, Texas based private holding company executing a buy-and-build strategy within the aerospace component manufacturing sector. Concurrently with formalizing this partnership, RPI invested equity capital into Novaria to fund the acquisition of the assets of Weatherford Aerospace, Inc. ("Weatherford"). Through its investment, RPI also acquired a stake in Novaria's existing class C hardware platform investment, Fitz Aerospace, LLC ("Fitz").
G.T. Barden, Managing Director at RPI, stated, "Partnering with Novaria gives Rosewood strong operating capabilities within the aerospace sector. Our focus on creating and building value over the long term coincides nicely with their desire to build the company through select acquisitions over the next decade."
Earl Larkin, Novaria's Co-Founder & Executive Vice Chairman, commented, "Rosewood is the ideal partner for Novaria. Their team of investment professionals is top notch, and their structure as a family-backed investment group allows them flexibility and patience unique to private equity."
Founded in 2011 by Bryan Perkins and Earl Larkin, Novaria Group owns controlling interests in Weatherford and Fitz. The company's goal is to operate a cohesive family of precision component companies that consistently delivers optimum performance and sustainable growth within the aerospace and defense marketplace. With deep industry knowledge, demonstrated integrity, and an abiding regard for human capital, Novaria provides its partner companies with unmatched access to unique innovations and best practices. For more information about Novaria Group, visit www.novariagroup.com.
Fitz Aerospace is a manufacturer of commercial aerospace bushings, fasteners, fittings, and other detailed machined components. For more information about Fitz Aerospace, visit www.fitzmfg.com.
Weatherford Aerospace is a provider of aircraft wing skins, formed structures and unique services related to the treatment and processing of aerospace products. For more information about Weatherford Aerospace, visit www.weatherfordaerospace.com.