Calif. company acquires DynaBil for $46.5M
The Daily Mail
Dec. 24, 2008

COXSACKIE — Ducommun Inc. has acquired DynaBil Industries, Inc., Ducommun Vice President and Chief Financial Officer Joseph P. Bellino said in a press release Tuesday.

DynaBil was sold for approximately $46.5 million in cash and notes, but the final price is subject to adjustment based on a closing balance sheet, according to the release.

DynaBil has produced various aircraft parts for 30 years for clients such as Boeing, Sikorsky and Lockheed Martin. California-based Ducommun supplies aircraft components, as well, for commercial and military jets and helicopters.

“DynaBil is a great strategic fit for us, as it adds to our titanium and aluminum assembly capabilities as well as enhancing our manufacturing process in both metals,” Joseph C. Berenato, Ducommun chairman and chief executive officer, said in the release.

The company will become part of Ducommun AeroStructures, Inc., which is a subsidiary of Ducommun Inc.

Bellino said that DynaBil was looking for a purchaser, and seemed to suit the expansion needs of Ducommun.

“By buying the company, it gives us access to new customers and will increase brand recognition,” he said.

DynaBil has expanded its own business and workforce over the last few years, Bellino said, adding that its investments have been well-managed, which made acquiring the company a smart move.

Hugh J. Quigley, DynaBil co-managing director, said the transaction was exciting.

“It’s absolutely win-win,” he said.

Quigley said utilizing DynaBil, which he and co-managing director Michael Grosso founded in 1977, will help Ducommun grow, which in turn will help the Coxsackie facilities.

Bellino said that the planned expansion of DynaBil’s facility in the Greene Business and Technology Park will move forward, although the Coxsackie complex will be called Ducommun AeroStructures New York.

Alexander “Sandy” Mathes, executive director of the Greene County Industrial Development Agency, said DynaBil had kept the agency informed of its situation as the acquisition neared. He said the agency is comfortable with Ducommun coming to the area, and believe the company is committed to Greene County.

“We are eager to get to know our new neighbors,” he said.