UK-based aerospace manufacturer Senior is expanding its presence in the US helicopter market through the acquisition of US-based Sterling Machine, which makes precision metallic parts for aerospace applications, including transmission and rotor-head components for military helicopters. Senior has agreed to pay a total of $37.6 million for the company, including the assumption of net debt. Through the deal Senior is gaining a “major new customer” – Sikorsky. The acquisition is in line with its strategy to focus on the aerospace and automotive original equipment markets. Sterling posted sales of $18.8 million in 2005. Senior’s chief executive Graham Menzies says the group is very pleased to have acquired “a profitable aerospace business with a strong market position, excellent management and good growth prospects”.

Source: Flight International