LDC supports turnaround deal

Five years after undergoing an MBO, the management team of MB Aerospace has bought Thomson Aero.

MB Aerospace has acquired Thomson Aero out of administration with help from private equity backer LDC.

The purchase follows on from MB Aerospace’s December deal for Detroit-based Gentz Aero, and sees its employee numbers swell to 450.

Craig Gallagher, CEO of Burnley-based MB Aerospace, says the acquisition provides the business with a range of additional machining capabilities and a highly skilled workforce.

Gallagher initially led an MBO of the business in 2007, in a deal with LDC, and in doing so acquired a number of engineering businesses from Motherwell Bridge. The company now has a client list including Rolls-Royce, Pratt & Whitney, Bowing 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.’

Thomson Aero, which provides engineering services and manufactured aero-engine components, went into administration in February, when professional services firm KPMG was appointed to oversee the process. The current deal sees the business form a new division of MB Aerospace.

John Swarbrick, senior director at LDC, adds, ‘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.’

Hunter Ruthven

Hunter Ruthven

Hunter was the Editor for GrowthBusiness.co.uk from 2012 to 2014, before moving on to Caspian Media Ltd to be Editor of Real Business.

Related Topics

Acquisitions