Bromford Industries Completes Second Bolt-On Acquisition
Bromford Industries, the aerospace machining business owned by Darwin Private Equity, today announces the acquisition of the trade and assets of Steelcraft Precision Ltd. The business was acquired out of administration.
Steelcraft is a supplier of precision machined Industrial Gas Turbine (“IGT”) components to Siemens, an existing customer of Bromford. The business has turnover of c.£1.7m.
The acquisition of Steelcraft, our second in two months, continues our strategy to become a consolidator in our industry. The acquisition of Steelcraft expands our capability within the IGT sector and enhances our position as a leading supplier to Siemens. The financial resources provided by Darwin have enabled us to move quickly and we are well-placed to continue to make further acquisitions.
Mike Smith, CEO
Corporate Finance advice was provided by Orbis Partners LLP and legal matters were dealt with by Travers Smith LLP.
