Shimtech Industries ("Shimtech") was acquired by Auctus Industries, in partnership with Inflexion Private Equity, from Bridgepoint Development Capital in December 2014* for an enterprise value of $220 million.
Shimtech is the largest manufacturer of aerospace shims and laminated shim material in the world. It is also a specialist supplier of high performance composite structures and assemblies to the leading original equipment manufacturers ("OEMs"), including Boeing and Airbus. Shimtech is a UK headquartered company with manufacturing facilities in the US in Santa Clarita, San Diego, and Seattle on the West Coast, Pennsylvania and in Middlesex in the UK.
The outstanding performance of Lamsco, Shimtech's largest US subsidiary, was recognised by The Boeing Company who awarded Lamsco its coveted 'Supplier of the Year' Award 2013 in the Outside Manufacturing category, ahead of 11,000 suppliers. Lamsco also received Boeing Performance Excellence Awards in 2011, 2012, 2013, 2014 and 2015.
Shimtech has three operating divisions:
Shimtech acquired Performance Plastics Inc. in November 2013 and Angels Composite Technologies Inc. in February 2015.
* Exchanged in Dec 2014, completed in May 2015.