MB Aerospace to be acquired by Blackstone
MB Aerospace has facilities across the US, UK, and Poland. The company has a well-balanced manufacturing model providing complex machined and fabricated assemblies into production and aftermarket applications across an installed base of 65 engine platforms. MBAe has secured strong positions on next generation engines that will soon come into production. The Company also operates a repair business to help reduce inventories for its customers as their focus increases on the full life cycle management of aero-engine assets.
MB Aerospace's key customers include Pratt & Whitney, Rolls-Royce, General Electric, Boeing, United Technologies Aerospace Systems, Pratt & Whitney AeroPower, GKN, Mitsubishi Heavy Industries, and the US Department of Defense. The company's experienced management team will remain in place and will continue to be led by Craig Gallagher, Chief Executive since 2003.
Craig Gallagher, Chief Executive Officer of MBAe (above), said: "This significant investment from Blackstone is very positive news for MB Aerospace as a company, for our staff and for our customers. It provides us with a huge opportunity to invest in our people and to continue to grow both organically and through acquisition both in the US and in Europe."
The transaction is expected to close later this year and is subject to customary regulatory approvals.
Bruce McEvoy, Managing Director at Blackstone, commented: "We are thrilled to have the opportunity to partner with such a high quality management team. MB Aerospace is a best-in-class engine component manufacturing and repair platform, and we look forward to supporting the company as it continues to expand its capabilities during its next phase of growth."
