Firstmark Corporation (OTC:FIRM) has completed the buyout of a major shareholder. Based in Richmond, Virginia and with manufacturing operations in Creedmoor, North Carolina, Firstmark, through its wholly owned subsidiary, Firstmark Aerospace Corporation, engages in the manufacture, assembly, maintenance, and repair of electromechanical and electronic components and subsystems for aircraft and missiles in the United States. Its products include AC and DC drive motors, electromechanical brakes and clutches, servo motors, tachometers and tachometer resolvers, actuators, brushless DC and limited angle torquers, compass calibration systems, flux valves, fuel probes, sensors, and servos.
Terms of the transaction were not disclosed. Philpott Ball & Werner, Inc. provided the fairness opinion for the transaction.