|By PR Newswire||
|June 2, 2013 06:59 PM EDT||
MOTHERWELL, Scotland, June 2, 2013 /PRNewswire/ --
- Delta Deal Will Lift Group's 2013 Revenues To £100m / $160m-
MB Aerospace, the international aerospace engineering group, has today announced the acquisition of US-based aero-engine component manufacturing business Delta Industries, which had annual revenues in excess of $60m in 2012.
The multi-million dollar deal to acquire Delta, based in Hartford, Connecticut, will expand the MB Aerospace business to projected revenues of more than $160m (£100m) and to 550 employees (up from 370) for the 2013 financial year.
The acquisition follows MB Aerospace chief executive Craig Gallagher leading a secondary MBO of MB Aerospace sponsored by Washington DC based private equity firm Arlington Capital Partners ('Arlington') in March of this year.
Mr Gallagher said: "With its wide range of capabilities, long-standing customer relationships and its strong management team, the Delta business has been a long-term target for MB Aerospace. It is a perfect fit with our ambitions for future growth.
"We are delighted to have succeeded in securing such a highly prized company and we believe that the combined group is positioned to take advantage of the available opportunities for further expansion in the months and years ahead.
"Today's announcement adds significant technical capabilities to the group, especially in relation to large-diameter fabrications and robotic welding of complex high-value aero engines components. In addition to its high levels of capability, Delta has an industry-leading reputation for its ability to manufacture challenging system-critical components."
The enlarged group now has a range of capabilities able to provide OEMs with engineering skills/services alongside the complex products found throughout aero, marine and industrial gas turbine engines. Core product technologies include casings, complex fabricated casings, rotating rings, complex structural assemblies and a range of diffusers, sync rings and high-value casings.
Mr Gallagher added: "The Delta acquisition is part of a progressive widening of MB Aerospace's capability footprint to address the critical service needs of our aero-engine customers. Historically, a typical aero-engine would have more than 400 unique suppliers; on the next generation of aero-engines this will be reduced to around 100 with tier one suppliers required to operate across a range of capabilities to serve their customers.
"The acquisition of Delta brings MB Aerospace significant engineering capacity with well invested technology alongside an ambitious management team, deep product engineering capabilities, and a strong book of business in commercial and U.S. defence end markets that will help support our growth plans. We also believe that establishing a new base for MB Aerospace in the aerospace community of Hartford, Connecticut, is another strategic step for the group as we broaden our customer reach, skills base and retain close proximity to the engineers at our key customers.
"MB Aerospace has always favoured manufacturing in the industrial heartlands of North America and the United Kingdom. Accessing the engineering skills and heritage of the Connecticut aerospace corridor will strongly complement similar features of our existing operations in Detroit - Michigan, Motherwell - Scotland, Burnley - England and Derby - England."
MB Aerospace already supplies many key names in the aerospace and defence industries, providing supply chain integration services alongside the manufacture and repair of complex aero-engine components. Together with Delta, the enlarged MB Aerospace group provides services and support to more than 45 separate aero-engine platforms across a range of commercial, defence and industrial gas turbine applications.
The Delta acquisition takes the group's staffcount in the US to more than 400, in addition to its three UK sites in Scotland and England which employ upwards of 150. Through its recent acquisition programme, MB Aerospace has sought to acquire operations with a rich level of engineering resource embedded throughout the business - with the acquisition of Delta, the group will employ more than 125 manufacturing and quality engineers, providing significant bandwidth to robustly serve its customers and capitalize on the period of sustained growth anticipated across the industry.
Bill Evans II, President of Delta Industries, commented: "We are delighted to join MB Aerospace - in them we see a business which is actively looking to grow in the aero-engine components market where it has key supply chain presence coupled with a strong range of customer relationships.
"We believe that these, combined with the capabilities and track record of our people here in Hartford, can propel Delta Industries on to even greater achievements and we're all looking forward to being part of that journey."
MB Aerospace's key customers now include Pratt & Whitney, Rolls-Royce, General Electric, Boeing, United Technologies, GKN, Mitsubishi Heavy Industries, and the US Department of Defense.
Craig Gallagher added: "We see exciting opportunities in the years ahead, as the global airline sector is expected to grow significantly over the next two decades, doubling from its current 20,000 aircraft by the early 2030s.
"This growth is being fuelled by the rising demand for travel in Asia coupled with the need of European and American airlines to replace ageing aircraft, dramatically increasing the demand for the wide range of world-class manufacturing and aftermarket services we already provide to some of the world's biggest aviation players.
"The global installed base of gas turbine aero-engine derivatives is nearly 225,000 units across various aerospace, defence and industrial applications and the majority of this fleet is expected to be growing and in service for several decades to come.
"The combination of our customer base along with Delta's clients is one of several powerful reasons why this deal is such a positive one for both organisations and the benefits to our expanded customer base will be significant. Following the acquisition of Delta we remain active in pursuing acquisition opportunities that complement our overall strategy."
Issued by The BIG Partnership on behalf of MB Aerospace.
Notes to editors:
MB Aerospace is an international aerospace engineering group providing complex engineering solutions to some of the key names in the aerospace and defence market.
MB Aerospace provides an in-depth knowledge of critical manufacturing technologies and the global supply chain management to support complex aero-engine component manufacture and repair.
MB Aerospace supports major corporations to address the root causes of under-performance in their extended and fragmented supply chains and helps safe-guard the continuity of supply in challenging circumstances.
MB Aerospace Chief Executive, Craig Gallagher, led the initial buyout in 2007 followed by the recent secondary management buy-out with the intent of building a global business of scale. MB Aerospace provides critical supply chain solutions, complex component manufacture and component repair to key industry primes and is targeting growth through strategic acquisitions in North America, remit extensions for its existing US and UK businesses.
In March of this year MB Aerospace announced the completion of a secondary MBO - via new investors Washington DC-based private equity fund Arlington Capital Partners ('Arlington') - to provide significant funding for a planned series of acquisitions.
Following strong growth and with a pipeline of significant opportunities, MB Aerospace attracted support from Arlington who have taken a majority stake in the business alongside the MB Aerospace management team as part of the secondary buyout.
SOURCE MB Aerospace
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years? This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.
Aug. 24, 2016 01:00 AM EDT Reads: 1,567
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
Aug. 24, 2016 12:45 AM EDT Reads: 2,014
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions wi...
Aug. 24, 2016 12:30 AM EDT Reads: 1,811
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Aug. 24, 2016 12:00 AM EDT Reads: 2,767
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
Aug. 23, 2016 11:30 PM EDT Reads: 2,202
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
Aug. 23, 2016 11:00 PM EDT Reads: 3,477
Qosmos has announced new milestones in the detection of encrypted traffic and in protocol signature coverage. Qosmos latest software can accurately classify traffic encrypted with SSL/TLS (e.g., Google, Facebook, WhatsApp), P2P traffic (e.g., BitTorrent, MuTorrent, Vuze), and Skype, while preserving the privacy of communication content. These new classification techniques mean that traffic optimization, policy enforcement, and user experience are largely unaffected by encryption. In respect wit...
Aug. 23, 2016 09:15 PM EDT Reads: 1,637
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Aug. 23, 2016 09:00 PM EDT Reads: 2,960
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
Aug. 23, 2016 08:45 PM EDT Reads: 3,733
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
Aug. 23, 2016 08:15 PM EDT Reads: 1,384
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Aug. 23, 2016 08:15 PM EDT Reads: 1,621
Kubernetes, Docker and containers are changing the world, and how companies are deploying their software and running their infrastructure. With the shift in how applications are built and deployed, new challenges must be solved. In his session at @DevOpsSummit at19th Cloud Expo, Sebastian Scheele, co-founder of Loodse, will discuss the implications of containerized applications/infrastructures and their impact on the enterprise. In a real world example based on Kubernetes, he will show how to ...
Aug. 23, 2016 07:45 PM EDT Reads: 1,224
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Aug. 23, 2016 07:00 PM EDT Reads: 3,787
SYS-CON Events announced today that eCube Systems, a leading provider of middleware modernization, integration, and management solutions, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. eCube Systems offers a family of middleware evolution products and services that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
Aug. 23, 2016 06:30 PM EDT Reads: 281
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Aug. 23, 2016 05:00 PM EDT Reads: 2,880