MB Aerospace buys US firm Delta Industries
- 3 June 2013
- From the section Scotland business
Engineering group MB Aerospace has bought a US-based aero engine component maker in a multi-million dollar deal.
The Motherwell-based firm confirmed it had acquired Delta Industries but did not disclose how much it paid.
Delta, which is based in Connecticut, reported annual sales last year of more than $60m (£39.5m).
The deal will boost MB Aerospace's projected annual revenue to more than £100m and raise staff numbers from 370 to 550.
The firm's US staff count now stands at more than 400, with the rest spread across three UK sites.
The deal comes only a few months after US private equity firm Arlington Capital Partners bought a majority stake in MB Aerospace.
The company, which specialises in machined and fabricated components for global aerospace and defence manufacturers, announced at the time it would embark on a series of acquisitions as part of an expansion drive.
MB Aerospace chief executive Craig Gallagher said establishing a new base in the aerospace community of Connecticut was a strategic step for the group as it broadened its customer reach and skills base.
He added: "With its wide range of capabilities, long-standing customer relationships and its strong management team, the Delta business has been a long-term target for MB Aerospace. It is a perfect fit with our ambitions for future growth.
"Today's announcement adds significant technical capabilities to the group, especially in relation to large-diameter fabrications and robotic welding of complex high-value aero engines components.
"In addition to its high levels of capability, Delta has an industry-leading reputation for its ability to manufacture challenging system-critical components."
MB Aerospace's key customers now include Pratt & Whitney, Rolls-Royce, General Electric, Boeing, United Technologies, GKN, Mitsubishi Heavy Industries and the US Department of Defense.