Derby’s MB Aerospace undergoes second management buyout
AN aerospace engineering company with offices in Derby has announced the completion of a second management buyout.
MB Aerospace, which has one of its three UK offices on Pride Park, has attracted support from new investors in the form of US-based private equity fund Arlington Capital Partners.
As part of the deal, the cost of which has not been disclosed, Arlington will take a majority stake in the business alongside the MB Aerospace management team.
MB Aerospace, which has manufacturing operations in the UK and the US, is now in talks with a number of “acquisition targets” in America, which could see the group expand from its current turnover of more than $80 million.
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MB Aerospace’s chief executive Craig Gallagher, who led the original management buyout of the company from engineering group Motherwell Bridge in 2007, will be chief executive officer of the enlarged business and will be joined by Gregor Goodwin as chief financial officer.
Mr Gallagher 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.”
MB Aerospace already supplies a number of key names in the aerospace and defence industries, providing supply chain integration services alongside the manufacture and repair of aero engine components.
It employs 360 people, including 145 in the UK and lists Derby aero engine-maker Rolls-Royce among its customers.