Renton-headquartered aircraft parts supplier AIM Aerospace is now Sekisui Aerospace, after the Japan-based Sekisui Chemical purchased the company for $510 million.
Throughout the purchase, the company is staying “business as usual.” The Washington state facilities are hiring, and no job changes are proposed for the 200-plus Renton employees, or the employees in the Auburn and Sumner locations.
The Renton facility mostly manufactures aircraft interiors. The name AIM used to stand for Aircraft Interior Manufacturing, when it began over 30 years ago. Much of the furniture in first-class or business class for Boeing and Airbus jets are made by the company. Some parts are also sent directly to airlines.
The purchase has been in the works since 2017, Sekisui Aerospace Senior Vice President for Business Development and Strategy Jon Evans said. The agreement became official in late November. This was always a goal for AIM, which was previously owned by private equity group Liberty Hall Capital Partners.
Sekisui Chemical is a 72-years-old chemical company, part of the purchase was to diversify its portfolio to aerospace manufacturing. Evans said Sekisui’s intention is to keep and grow the business over the coming decades, which will create stability. He said the companies have a lot to still learn about each other.
Evans said Boeing and other companies they supply were receptive to the acquisition, since it meant more certainty for its future.
Most of the Renton facility’s parts go to Boeing, being in the Boeing factory’s backyard. With the recent announcement of a temporary factory shutdown and the challenges going on there, Evans said the supply chain, including Sekisui Aerospace, will wait to see how it plays out, ready to make and deliver the 737 Max again. For now, the acquisition adds some stability for this supplier.
More information is available at sekisuiaerospace.com.