MANDEVILLE, LA – Jefferson Capital announced the closing of the fourth acquisition for its portfolio company, Integrated Aerospace Manufacturing (IAM) – IAM has merged with Cobalt Enterprises in a transaction that nearly doubles the size of the company while enhancing its management team and expanding its manufacturing capabilities. Jefferson Capital led the investor group which includes Banyan Mezzanine, Diamond State Ventures and Midstates Investors. In 2014, IAM completed the acquisitions of Quality Manufacturing, Polaris Machining and Vector Industries.
Cobalt Enterprises is an aerospace, defense and commercial manufacturing company located in Granite Falls and Lake Stevens, WA. Cobalt performs machining, turning and assembly work, and has certain finishing capabilities. The combined company will employ a staff of over 200 operating from four facilities north of Seattle. Cobalt management will remain with the combined company and has retained a significant ownership interest in the resulting business.
"We are thrilled to add Cobalt to the IAM group of companies," commented Les Alexander, a partner with Jefferson Capital. "In addition to partnering with two industry veterans to manage the combined businesses, the addition of Cobalt allows us to efficiently consolidate our QMI and Polaris operations into a new, larger Cobalt facility."
Cobalt President Fred Schule stated, "We are excited to combine our operations with Vector, QMI and Polaris. We believe joining forces allows us to expand the capabilities we can offer our aerospace, defense and commercial customers to further grow the business."
