Qioptiq logo Raytheon Global MilSatCom

BUSINESS NEWS

01 Jun 13. 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 (Source: Google/BBC)

31 May 13. Selima Partners, LLC of Tampa, FL, announced that it has acquired the Orlando, FL component test business unit from Tektronix
Component Solutions. The new entity, Precision Test Solutions, will now expand its services in testing and validating a broad range of devices to ensure they meet military, space and commercial aerospace requirements. The purchase will maintain 45 high-tech jobs in Orlando Florida and ensure continued support to a wide-ranging customer base including U.S. Defense Prime Contractors, Semiconductor OEM’s and suppliers to aerospace manufacturing lines. This purchase establishes Precision Test Solutions as a national leader in the third-party test services market and furthers Orlando’s position as a high-tech sector leader. (Source: Yahoo!/BUSINESS WIRE)

02 Jun 13. Signs of the automatic budget cuts known as sequestration are everywhere in Washington, but on Wall Street it’s a different story. Many US defense stocks are at or near record highs, having well outperformed the broader market recovery of 2013, and much of that gain occurred in May. While the S&P 500, a capitalization-weighted index of top US companies, grew 3.4 percent from April 29 to May 29, defense stocks nearly doubled that figure at 6.5 percent as measured by the Spade Defense Index (DXS). The Spade Defense Index, also capitalization-weighted — meaning that the index factors in the value of the companies when aggregating numbers — is composed of nearly 50 companies, more than two dozen of which appear on the Defense News Top 100 contractors list. Goldman Sachs even announced May 30 that it now considers defense stocks “attractive,” a move that will likely push more casual investors into the space and spur more growth. (Source: Defense News)

06 Jun 13. Ultra Electronics Holdings plc. Ultra announces that it has acquired Varisys Limited (“Varisys”) for an initial cash consideration of GBP16m. Additional payments of up to GBP2m will be payable subject to performance over the next two years. Varisys designs and manufactures products for high performance embedded computing applications. Its products and services portfolio include bespoke solutions for customers operating in the aerospace, defence, telecommunications, and industrial sectors. The acquisition will give Ultra an organic capability in this specialist, niche area, allowing Group businesses to meet customer requirements more quickly and cost-effectively. Varisys is a privately-held British company based in High Wycombe, UK, and was acquired from its founders, Paul Gentle and Adam Barnes; both will remain with the business under Ultra ownership. The acquisition of Varisys will be financed using Ultra’s existing facilities and is expected to be earnings enhancing in 2013. Varisys will continue to operate from its current location as part of Ultra’s existing Controls business within the Aircraft & Vehicles Systems Division. (Source: Google/WSJ)

05 Jun 13. India’s Foreign Investment Promotion Board (FIPB) has given the go-ahead to French defence electronics group NSE Industries to establish a joint venture (JV) in India

Back to article list