MB Aerospace secures US investment
American investors Arlington Capital Partners has acquired a large stake in MB Aerospace, providing the Burnley-based group with significant funding for a planned series of acquisitions.[caption id="attachment_22083" align="f-align-medium-right f-align-center" width="300"] Craig Gallagher[/caption]
MB Aerospace, which has manufacturing operations in the UK and the US, is now in discussions with a number of acquisition targets in the United States which will see the group expand considerably from its current turnover of more than £50m.MB Aerospace’s chief executive Craig Gallagher, who led the original MBO of the company from engineering group Motherwell Bridge in 2007, will be chief executive officer of the enlarged business.
He said: “This landmark deal represents a great vote of confidence in our US and UK employees and operations, as well as providing the group with significant opportunities for further expansion in the months and years ahead.“Our vision of creating a truly world-class aerospace business focussed on aero-engine components is developing at pace, with the acquisitions in the past 15 months of Gentz Aero of Detroit and Thomson Aero of Somerset, allowing us to further grow our manufacturing operations whilst securing significant remit extensions for our supply chain management services and complementary engineering support services.”
MB Aerospace already supplies many key names in the aerospace and defence industries, providing supply chain integration services alongside the manufacture and repair of complex aero-engine components. Customers include Pratt & Whitney, Rolls-Royce, General Electric, Boeing, United Technologies, GKN, Mitsubishi Heavy Industries and Volvo Aerospace.