Darwin Private Equity (“Darwin”) has completed its second transaction, with the acquisition of the aerospace machining division of Hampson Industries PLC for £23.7 million.
Hampson Aerospace Machining Limited (“HAML”) is a manufacturer and supplier of complex, highly engineered, performance-critical components for the commercial aerospace, military & defence and power generation markets. It serves a blue-chip customer base of gas turbine engine OEMs such as Rolls-Royce and Siemens and Tier 1 aerospace equipment suppliers such as Messier-Dowty and Goodrich. HAML operates from three sites in the Midlands and has its headquarters in Birmingham.
There are c. 300 employees. Following the acquisition, HAML will be renamed and trade as Bromford Industries.
The acquisition by Darwin follows the decision by Hampson Industries PLC to focus on developing its advanced composites businesses in components and tooling systems.
CEO of HAML, commented: “We are delighted to have found a partner in Darwin Private Equity who shares our passion for excellence. We have a great team here and with the support of Darwin, we are excited about the opportunities that lie ahead for the business.”
Kevin Street, partner of Darwin Private Equity, commented: “HAML is a leading aerospace component manufacturer and Mike and his team have done an excellent job over recent years. We believe HAML is a good platform for growth and we plan to invest in the business to build upon its market-leading position.”
Joining the existing management team as part of the transaction are John Hudson OBE, as Chairman, and Jeff Walker FCA, as Finance Director. Both John and Jeff have a long-standing relationship with the Darwin Private Equity team, having worked with them on previous transactions.
John Hudson is a well-known industrialist who has spent many years working with engineering companies in and around Birmingham. He has been Chairman of Birmingham International Airport since 1997 and is a former president of Birmingham Chamber of Commerce. Jeff Walker has worked with John in private equity backed businesses for 10 years and will provide valuable knowledge and support for the existing management team as they make the transition to a private equity environment.
The Acquisition Finance team within Lloyds TSB Corporate Markets committed 100% of the acquisition debt financing for the transaction.