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Thursday, August 9, 2012 - Page updated at 12:30 p.m.
Aerospace supplier LMI buys Kirkland firm
By Dominic Gates
Seattle Times aerospace reporter
LMI Aerospace, which provides design engineering services and supplies structural assemblies, kits and components to the aerospace industry, has acquired Kirkland-based TASS, an after-market engineering and support services firm whose chief customer is Boeing.
TASS has 60 employees with offices in Kirkland, the United Kingdom, Australia and Sri Lanka. It offers 24/7 support to airlines with jets stranded on the ground by maintenance issues as well as design and analysis of modifications and repair, technical fleet management, and engineering program management.
The purchase price was not disclosed. LMI said TASS is expected to generate approximately $17 million in 2012 sales.
The buyer is headquartered in St. Charles, Mo. but has three facilities in Washington state.
It employs about 160 people in Auburn, where it manufactures parts and produces kits and assemblies for the aerospace industry. Another unit, Intec, near the Boeing widebody plant in Everett, employs about 65 people doing advanced composite materials testing and fabrication.
A third subsidiary, D3 Technologies, employs 220 people in Washington, providing design and engineering services to Boeing and other companies. About 115 of those are based in D3's office in Mukilteo, with the rest are deployed inside customer facilities — chiefly at Boeing.
LMI's second-quarter earnings, announced Wednesday, showed a $5 million profit on sales of $69 million. CEO Ronald Saks said the company won additional business this year, including Boeing 737, 787 and 747-8 assemblies.
TASS provides Boeing engineering support for in-service commercial aircraft either at TASS or Boeing facilities.
LMI said TASS chief operating officer John Brom and chief technical officer Damian Horrigan will continue to lead the acquired unit.
Dominic Gates: 206-464-2963 or email@example.com
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