Foley Advises Diploma in $300M Acquisition of Peerless Aerospace Fastener

Foley & Lardner LLP represented Diploma PLC, an international value-add distribution group, in its acquisition of Peerless Aerospace Fastener LLC (Peerless), a distributor of fasteners in the U.S. and European aerospace markets, for approximately $300 million.

Founded in 1952, Peerless is one of the largest independent value-added distributors of aerospace fasteners. The company is an approved supplier to all major aerospace companies globally, primarily serving approximately 80 sub-contractors to the principal OEMs.

Diploma’s acquisition of Peerless extends its capabilities from aircraft cabin to airframe, fueling accelerated organic growth in the U.S. with an enhanced product offer and deeper penetration into key strategic markets in Europe.

The Foley deal team was led by partner Omar Lucia and included associates Annemarie Heitz and Ryan McNulty.