Exxelia acquires Deyoung MFG., INC.
Exxelia today announced that it has acquired Seattle area DeYoung Mfg., Inc. (aka DMI), a highly respected designer and manufacturer of high reliability electromagnetic products serving the North American aerospace, medical and industrial markets.
“The DMI acquisition directly supports our Magnetics SBU expansion strategy. DMI’s strategic location in the Pacific Northwest aerospace market provides a key geographic location for driving growth and profitability,” said François Vignaud, Exxelia Magnetics’ SBU VP. “DMI is highly regarded for the quality of its products and the operational performance of its organization. DMI products can be found on most major commercial aerospace platforms, supporting in flight power, lighting and entertainment sub-systems.”
“We welcome DMI into the Exxelia Group,” said Exxelia USA President Michael Thomas. “During its 40-plus years in business, DMI has built solid customer relationships with a strong brand reputation in the aerospace, medical and other high-reliability magnetics markets. Acquiring DMI creates the potential for both revenue and cost synergies related to cross selling and procurement savings as we leverage Exxelia Group’s broader global supply chain and operational excellence practices to support DMI’s operations.”
According to Martin DeYoung, President & CEO of DMI, “We are excited to now be a part of Exxelia’s growth and expanded product offerings. The DeYoung’s recognized a shared business culture driven by a passion for quality and customer loyalty. By joining Exxelia Group we achieve a goal of meeting our strategic growth objectives while protecting our long standing relationships with our key aerospace customers and their contract manufacturers.”
“This acquisition addresses our aerospace customers increasing requirements for global manufacturing access and timely support” stated Eric DeYoung, VP of Operations at DMI. “Together, we have global reach with the capability to serve our customers – whatever their size, location, or aerospace industry sector with one of the most comprehensive and competitive groups of design and manufacturing capabilities.”