This article originally ran in the St. Louis Business Journal on October 24, 2022.
Essex Industries, a St. Louis-based aerospace and defense manufacturer, is expanding through an acquisition that will add to its footprint on the East Coast.
Essex said Monday it is purchasing Seymour, Connecticut-based manufacturer Precision Aerospace Inc. (PAI) Financial terms of the deal, scheduled to close Monday, were not disclosed.
The acquisition marks Essex’s second deal in as many years that involves buying a manufacturer in Connecticut, following its 2021 acquisition of Milford, Connecticut-based Stevens Manufacturing. Founded in 1947, Essex is a family-owned business that provides platform controls, aircraft components, emergency breathing and liquid oxygen equipment. It is one of the St. Louis region’s largest privately held companies, with 2021 revenue of $109.1 million and more than 400 employees companywide.Read More