Gulfstream To Acquire WECO Aerospace Systems
Gulfstream Aerospace last week said it is acquiring WECO Aerospace Systems Inc., a privately held aviation-component overhaul company specializing in electrical, electronic accessories and flight instrument services. The business will retain the WECO name and become part of Gulfstream’s Product Support business operations. The purchase is expected to close by the end of the first quarter 2007; financial details of the transaction were not disclosed. “This acquisition furthers our commitment to providing outstanding product support for our fleet operators. Gulfstream has been one of WECO’s biggest customers,” said Bryan Moss, president, Gulfstream.
According to Larry Flynn, president, product support, Gulfstream, the acquisition makes sense for both parties. “For Gulfstream, this agreement augments our current overhaul capabilities on the West Coast, something our customers have requested for a long time. As for WECO, it ensures a continuous flow of business and greatly expands their resources,” Flynn said. Founded by father and son Hal and Bill Weygandt in 1974, WECO employs approximately 75 people who work at either of the company’s two California offices, one in Lincoln and the other in Burbank. Bill Weygandt, president of WECO, will retain his position and title.