ACF Associates acquired by Peterborough’s Loomex Group
May 5, 2022 By Brendan Burke, Local Journalism Initiative Reporter, The Peterborough Examiner
By Brendan Burke, Local Journalism Initiative Reporter, The Peterborough Examiner
The Loomex Group, a Peterborough-headquartered company that provides an array of services in aviation and aerospace, infrastructure, emergency management and education, has acquired Kingston-based aerospace defence consulting group ACF Associates Inc.
The deal, effective Monday, will help the Loomex Group realize its vision of serving North American and global aviation and aerospace industries, says Trent Gervais, Loomex’s president and CEO.
“We are thrilled about our new partnership with ACF Associates. The acquisition aligns with The Loomex Group’s current business as well as our company’s overall strategic plan,” Gervais stated in a release.
The Loomex Group is contracted by the City of Peterborough to manage the Peterborough Airport and is contracted to run the City of Kawartha Lakes Airport in Lindsay. Loomex manages eight airports in Ontario and Alberta.
Gervais noted the similarities between the two companies – both Loomex and ACF Associates adhere to a business model that “focuses on providing clients with leading-edge solutions.”
“This partnership will add valuable expertise to the Loomex Group’s aerospace division and enable both companies to further diversify and better support our government and our private sector clientele,” Gervais stated.
No purchase price was disclosed by the companies. The combined company will be headquartered out of the Loomex offices at the Peterborough Airport.
The current services offered by ACF Associates will not be impacted by the acquisition, according to the release. The ACF executive team will “remain at the helm” while continuing to provide management solutions to its customers, it states.
“The company will continue to offer its services at the same high level of quality while simultaneously embracing the opportunity to expand and bring innovation and expertise into related fields that it has not previously explored,” the release stated.
After supporting agencies in the aerospace defence sector across Canada for the last 15 years, ACF president Andy Fitzgerald and vice-president Andrea Crossland said in a joint statement the acquisition will create new opportunities for the next decade-and-a-half and beyond by laying the bedrock for future growth.
“We are extremely excited to begin ACF’s next chapter by being a part of the larger Loomex Group family,” they stated.
The two echoed Gervais’ comments, adding that the two companies are in step with one another when it comes to their operational principles and business approach.
Loomex says the move to acquire ACF solidifies its place as an aerospace and aviation leader in North America and abroad.
Established in 2006 – three years before Loomex – ACF Associates is an independent consulting company that specializes in aircraft support for civilian and government aerospace industry.