LDC portfolio firm completes deal
LDC-BACKED MB AEROSPACE has today bought the business and certain assets of competitor Thomson Aero from administrators KPMG.
MB Aerospace will add Thomson Aero’s base at Frome in Somerset to existing network at Burnley, Derby and Moterhwell. The deal secures the future of Thomson Aero’s 60 employees.
The Leeds office of LDC backed a management buy-out of MB Aerospace in 2007.
Senior director John Swarbrick said: “The deal will further increase MB Aerospace’s production capabilities, whilst creating a number of synergies as a result of the two firms’ complementary product offerings and target markets.”
Thomson Aero was set up in 1959 and currently has a turnover of £6m. It serves a blue-chip customer base and provides manufactured aero-engine components for a number of civil, defence and industrial gas turbines.
The firm develops complex machined components supporting aeroplanes such as the Eurofighter Tycoon and the Airbus A330 aircraft.
Craig Gallagher, chief executive officer of Burnley-based MB Aerospace, said: “This acquisition provides us with a range of additional complex machining capabilities and a highly-skilled workforce ready to support the challenging needs of our global customers, including Rolls-Royce, Pratt & Whitney, Boeing and GKN Aerospace.
“The administration of Thomson Aero has been a challenging period for employees, customers and supplier stakeholders alike; however, I’m confident the acquisition provides the best solution available for all and that MB Aerospace will be able to stabilise the business and position it for future growth.”
The deal marks MB Aerospace’s second acquisition in three months following its purchase of Detroit-based Gentz Aero in December 2011. It also brings the total number of employees in the group to almost 450.
