Buyout from US parent creates East Lancashire aerospace toolmaker group
Kaman Tooling is operating under new ownership (KTL Tooling) following a recent acquisition deal for an undisclosed sum that saw it break away from American aerospace group Kaman Corporation.
The specialist tooling manufacturer now forms part of an enlarged toolmaker group, which includes Accrington-based G Parker Aero Tooling Solutions.
Both businesses are spearheaded and wholly-owned by Accrington-based Michael Parker.
Michael Parker is also joined at KTL Tooling by new non-executive chairman, Dave Roberts, who brings significant industry experience to the role, to create an experienced and commercially-focused executive team that underpins both organisations and lays the foundation to deliver growth.
KTL Tooling operates from a purpose-built 64,000 sq ft manufacturing facility on Burnley’s Innovation Drive, a global centre of excellence for aerospace and automotive engineering.
It employs more than 60 highly-skilled technical engineers and support staff who service a growing international roster of industry leaders that includes BAE Systems, Rolls Royce, GKN Aerospace, Airbus EADS (Astrium) and Thales Underwater Systems.
Under its new ownership KTL Tooling’s mission is to become the go-to supplier for composite mould tools in the UK and Europe, by leveraging the enlarged group’s engineering expertise and complementary tooling specialisms.
Worldwide, the composite tooling market is expected to reach $551.8m by 2021 at an annual growth rate of around 10%.
This is largely from the demand for tooling to manufacture composite engineering components for the aerospace, defence and automotive industries due to the increasing requirement for lightweight and high-performance materials.
Managing director of KTL Tooling, Michael Parker, said: “A history of innovation binds KTL Tooling and G Parker Aero Tooling Solutions, which was a key driver behind the takeover.
“Creating a single group brings a significant breadth of technical ability that sets us apart from our competitors, ultimately supporting both business’s growth plans and the evolving needs of our customers.”
During its almost 60-year history, KTL Tooling has developed a range of specialist tools for the manufacture of complex aircraft parts, which includes production of the A350, F-35, Typhoon, A320, Learjet, C-Series, A330, Hawk, A380, KC-390, G280, Trent, AH-1Z, A10 and A340.
Mr Parker added: “Tooling was one of the many specialisms under the Kaman banner and we are focused on enhancing KTL Tooling’s manufacturing capability with its relevant approvals.
“We still work closely with Kaman on a preferred supplier basis, whilst ensuring we maintain the same high levels of innovation, service and support for our entire client base.
“East Lancashire is one of the world’s largest aerospace clusters and I am committed to strengthening the region’s outputs through this enlarged tooling group to ensure it remains a significant hub for advanced global manufacturing.”