Valence Surface Technologies has acquired Foresight Finishing, a Tempe, Arizona-based provider of surface treatment solutions for the aerospace and defense markets.
David CamilleriFinancial terms of the transaction were not disclosed. Founded and operated by Casey and Joe Weizel in 2010, Foresight’s core capabilities include gold, silver, nickel, tin, and palladium plating and offer vibratory, rack, selective, and barrel application technologies.
Foresight employs approximately 110 people and operates out of a single facility in Tempe, with capacity for future growth and expansion.
“The acquisition of Foresight is Valence’s second in just three months and enhances our position as the leading provider of complex surface treatment to the aerospace and defense supply chain,” says David Camilleri, Chairman of Valence. “Since our initial visit, we recognized the uniqueness and highly specialized nature of the business that Casey and Joe Weizel have built.”
Foresight represents the 12th add-on acquisition for Valence since its inception, and Valence says it will continue to pursue additional opportunities in both North America and Europe.
Camilleri says Foresight’s customer relationships, quality, and lead times, as well as its proximity to customers, are a strategic fit within Valence, providing it with a new regional presence in the aerospace and defense electronics segment of its business.
Casey and Joe WeizelCasey Weizel and the existing management team and workforce will remain with the organization as part of the transaction. Alfredo Graff, current Operations Manager at Foresight, will advance to the role of General Manager of the operation.
“We’ve been impressed with the Valence team and organization as a whole, and are convinced that this partnership will best support Foresight’s continued growth and development as a true industry leader,” says Casey Weizel. “Valence’s commitment to its stakeholders — including both customers and employees — aligns with everything we’ve built at Foresight, and we look forward to continued momentum as part of this great company.”
Valence is majority-owned by ATL Partners and British Columbia Investment Management Corporation, which invested in Valence in June 2019 to accelerate the company’s strategic initiatives and support its continued growth. Foresight represents the 12th add-on acquisition for Valence since its inception, and Valence says it will continue to pursue additional opportunities in both North America and Europe.
KAL Capital Markets LLC served as the exclusive financial advisor, and Polsinelli served as legal counsel to Foresight Finishing. Goodwin served as legal counsel to Valence.
Valence Surface Technologies claims to be the world’s largest independent provider of aerospace product finishing services, with 12 locations and over 5,000 unique industry approvals. The company claims it processes more than 1,000,000 parts per month. In addition to being Nadcap accredited, all Valence sites offer specialized metal processing and finishing services to a diverse range of fast-growing commercial aerospace, defense, and space/satellite markets.
