CHANDLER, AZ – Walbar Engine Components (“Walbar”), a portfolio company of Cornerstone Capital Holdings (“Cornerstone”) that produces turbine engine airfoil products, has acquired the Guaymas, Mexico manufacturing facility of Chromalloy, a division of Carlyle (NASDAQ:CG) portfolio company Sequa Corporation.
Chromalloy has operated in Guaymas since 2009, supporting major OEM engine customers by providing precision machining of both high- and low-pressure gas turbine engine components. The 35,000 sf, state-of-the-art facility supports its customers through a wide variety of close tolerance machining capabilities including CNC grinding, EDM and milling.
Keith Schrader, Walbar’s President and CEO, stated: “This is an excellent business combination that will have a significant, positive impact on Walbar’s growth trajectory. The transaction expands our customer base, further diversifies engine platform content, and will provide Walbar with substantial new manufacturing capacity to continue to support our customers’ increasing engine build rates.”
With the acquisition, Walbar will gain key new engine content on Airbus and Boeing aircraft along with Siemens industrial gas power plants.
Walbar manufactures high- and low-pressure turbine engine airfoil and related components including turbine blades, seal segments, nozzle guide vanes, and compressor wheels for the aerospace and power generation industries. Walbar operates from a total of 170,000 sf between its Chandler, Arizona headquarters and Guaymas, Mexico manufacturing sites.
Cornerstone Capital Holdings is a diversified holding company comprised of leading manufacturing and industrial service businesses. Cornerstone companies serve aerospace, defense, space and industrial markets from seven locations throughout the United States. Founded in 2000, Cornerstone has grown both organically and through multiple, targeted acquisitions.