LA Aerospace Firm Amca Acquires Payne Magnetics
Los Angeles-based aerospace and defense firm Amca has acquired Payne Magnetics, a specialist in power electronics. The move is intended to deepen Amca's capabilities and highlights ongoing consolidation within the Southern California aerospace supply chain. The acquisition strengthens the company's position in the legacy aerospace sector.
- Amca (The Advanced Manufacturing Company of America) launched in April 2025 with $76.5 million in backing from venture capital firms including Caffeinated Capital, Founders Fund, and Andreessen Horowitz. - The firm was co-founded by Jai Malik, a serial aerospace investor, and Eli Giovanetti, who was previously a senior leader in production and engineering at SpaceX. - This is the latest in a series of acquisitions for Amca, which previously bought Electro-Mech Components, a South El Monte-based manufacturer of human-machine interface products, and Electrocube, a Pomona-based power electronics company. - Payne Magnetics was founded in the 1950s by George Payne and was sold by his son, the second-generation owner, Jon Payne. - The company's specialized magnetic components are critical for high-performance electronics on major commercial and military aircraft, including the Boeing 737MAX, F-16, and F-18. - The acquisition of Payne, following the purchase of Electrocube, is part of Amca's strategy to build a robust power electronics division to serve new defense system needs, particularly for UAVs. - Amca's business model is to acquire legacy, family-owned suppliers to address what it sees as a fractured and fragile aerospace supply chain, aiming to modernize them to reduce component lead times. - The transaction reflects a broader trend of increased investment and consolidation in the Southern California aerospace sector, driven by a ramp-up in national defense spending and the region's concentration of skilled manufacturing labor.
