SANTA ANA, Calif.—Kordsa has acquired Axiom Materials Inc. in a $181 million deal.
The deal paves the way for Kordsa to develop its competencies in strategic and high-growth areas, and adds to the company's product portfolio, according to a company news release.
Kordsa, a Sabanci Holding subsidiary, said it completed the first phase of its goal to expand into composite technologies with the acquisition. It entered the industry with its Composite Technologies Center of Excellence, jointly established with Sabanci University. Its 2018 acquisitions of Fabric Development Inc., Textile Products Inc. and Advanced Honeycomb Technologies expanded its operations in composite materials for the aerospace industry.
Axiom, based in Santa Ana, produces value-added materials widely used in aircraft engines, with additional applications in other industries, Kordsa said.