Shareholders approve sell-off of Hampson subsidiaries

SHAREHOLDERS of Black Country aerospace group Hampson Industries have voted to accept the £51m sale of the firm’s shims businesses.

The Shims Businesses comprise Lamsco West, based in California, Bolsan, based in Pennsylvania, Middlesex based Attewell Ltd and the business of Pillar Seals and Gaskets, which is carried on by Attewell.

Hampson announced last month it had concluded an agreement with investment firm Bridgeport Development Capital to acquire the firms.

At a general meeting yesterday shareholders voted to accept the deal, subject to certain conditions being abided by.

The principal activity of the Shims Businesses is the manufacture and supply of shim components to the global commercial and military aerospace markets. A shim is a component manufactured in either solid or laminated peelable form out of a variety of materials, including metal, plastic or composite material, which is used to achieve precisely specified or closely toleranced dimensions during the assembly of aerostructures.  

In addition to manufacturing shims, the Shims Businesses also manufacture a range of standard and high performance non-metallic seals and gaskets for high technology industrial applications, as well as providing value-added integrated supply chain and logistics solutions.  

Lloyds Bank Corporate Markets will fund Bridgepoint Development Capital’s acquisition.