Birmingham professional services sector shines in aerospace deal
BIRMINGHAM’S professionals sector has played a major role in a deal that has seen aerospace engineering firm Trac Group acquired by US-based Chromalloy, a subsidiary of Sequa Corporation.
The corporate finance team at BDO in Birmingham were lead advisers to the shareholders at Trac Group. The team was led by Corporate Finance partner Roger Buckley, with the Birmingham offices of DLA and KPMG providing legal advice and due diligence respectively.
Trac Group, which operates in the UK from bases in Wednesbury, Telford, Derby and Crewe, manufacturers engine components for supply to clients including Rolls-Royce, Snecma, Alstom and Siemens.
It comprises three separate operating divisions: Trac Component Division, Trac Tooling and Trac Measurement Systems.
Buckley said: “The transaction highlights the quality of the region’s business and professional community and its ability to advise on complex cross border deals.
“A deep understanding of the global aerospace sector, its innovative supply chain network and, importantly, a genuine interest in building relationships and providing the best level of service, means we’ve come together to create a great deal that benefits both parties.
“Looking forward, M&A activity is definitely picking up speed and there continues to be huge global interest in the aerospace industry that’s firmly embedded in the Midlands.”
