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Air Industries Group (NYSE: AIRI), Bay Shore, NY, has acquired Eur-Pac Corp., Waterbury, CT, a military packaging and supplies company. Eur-Pac's primary business is "kitting" of supplies for all branches of the U.S. Defense Department including ordnance parts, hose assemblies, hydraulic, mechanical and electrical assemblies.
Eur-Pac will operate as a separate and independent platform company of Air Industries. The two principals of Eur-Pac will remain with and continue to manage the company for two years following the closing.
"While Eur-Pac will operate as a separate subsidiary, its products are similar to many of our other subsidiaries," said Peter Rettaliata, CEO of Air Industries. "We view Eur-Pac as a platform and hope to grow the business."
Air Industries has closed two acquisitions this year, Woodbine Products and Eur-Pac.