MB Aerospace Charts New Course Through MBO, Acquisitions
International aerospace engineering group MB Aerospace arrived at the 50thInternational Paris Air Show in its strongest ever shape after a first half of 2013 featuring a significant secondary management buyout and the first of a planned series of major acquisitions.
In March MB Aerospace announced the completion of a secondary management buyout–via new investors Arlington Capital Partners of Washington, D.C.–to provide significant funding for a planned series of acquisitions. Just weeks later MB Aerospace completed a deal to acquire U.S.-based aero-engine component manufacturer Delta Industries.
“The deal adds significant technical capabilities to the group, especially in relation to large-diameter fabrications and robotic welding of complex high-value aero engines components,” said MB Aerospace CEO Craig Gallagher.“In addition to its high levels of capability, Delta has an industry-leading reputation for its ability to manufacture challenging system-critical components.”
Core product technologies include casings, complex fabricated casings, rotating rings, complex structural assemblies and a range of diffusers, sync rings and high-value casings. Together with Delta, the enlarged MB Aerospace group provides supply chain integration services and manufacture and repair of engine parts to more than 45 separate aero-engine platforms. Key customers now include Pratt & Whitney, Rolls-Royce, General Electric, Boeing, United Technologies, GKN, Mitsubishi Heavy Industries and the U.S. Department of Defense.
“This has been a very strong year to date for MB Aerospace and we are now very well positioned as we aim to capitalize on predicted growth within the global airline sector across the next two decades,” said Gallagher. “The new, larger MB Aerospace is backed by a committed and significant sponsor in Arlington and together we share a real desire to continue to consolidate, improve service levels and grow the group through the acquisition of new capabilities and customers.”
Operating in Europe and North America, MB Aerospace projects revenues of more than $160 million and 550 employees (up from 370) for the 2013 financial year and plans to grow further through ongoing consolidation and acquisition.