$61.5M deal agreed for aviation business


BBA Aviation has agreed a deal to buy the Cheltenham-based legacy avionics operations from GE Aviation for $61.5m (£49.5m). The acquired business comprises a portfolio of legacy avionics parts servicing the military and commercial aviation markets, including electro mechanical, barometric, gyroscopes and electronics products. It works on aircraft including Boeing 737, Sikorsky Sea King and Leonardo AW101 helicopters, Lockheed C130/J transports and BAE Hawk.

The business has been acquired by Ontic, BBA Aviation’s legacy support subsidiary. About 90 staff are employed at its principal location adjacent to Ontic’s existing site in Cheltenham, UK, with two further sites in Florida, US, and Brisbane, Australia. Work at the latter sites will relocate to Ontic’s sites in Chatsworth, US, and Singapore.

Simon Pryce, group chief executive of BBA Aviation, said: “Today’s acquisition is a strategically significant deal for Ontic – a business that has grown significantly since the group acquired it in 2006.”Ontic is already the leading provider of high-quality, cost-effective solutions for the continuing support of maturing aerospace platforms and we look forward to expanding our product offering in legacy avionic parts.” BBA Aviation also issued a trading update for the period from 1 January to 31 October 2016, reporting a 27 per cent year-on-year increase in revenue.

Warning: A non-numeric value encountered in /homepages/41/d67685540/htdocs/weeklytribunenews/wp-content/themes/Newspaper/includes/wp_booster/td_block.php on line 352