 Aerospace and defense company Ducommun Inc. (NYSE: DCO) in Santa Ana has acquired Magnetic Seal Corp. (MagSeal) of Rhode Island.
The purchase price for the transaction was $69.5 million, net of cash acquired, subject to adjustments for working capital, Ducommun said.
MagSeal is a provider of high-impact, military-proven magnetic seals for critical systems in aerospace and defense applications, offering sealing solutions that are engineered to perform in high-speed, high-vibration and other challenging environments.
“I am delighted to welcome the MagSeal business and its team to Ducommun as we continue our strategy of adding high value added A&D; engineered products with recurring aftermarket to our portfolio,” Stephen G. Oswald, chairman, president and chief executive officer of Ducommun, said in a statement.
Oswald told the Business Journal today that MagSeal is a “good addition” to the company.
Shares in Ducommun closed up 1.9% at $45.08 apiece for a market cap of $537.5 million.
