Wed, 12 Mar 2014 | MBO/MBI
The directors of engineering solutions firm AE Aerospace have finalised a management buy-out of the business as part of its plans towards its goal of expansion.
The management team was headed by managing director Peter Bruch, who came to the business one year ago in March 2013, quality and operating systems director George Preston and engineering director Andy Masters, who has served over 19 years at the business to date.
The new owners have started to carry out an initial five-year strategy for growth and to reach new customers and marketplaces. The deal is also expected to boost its service offering to customers including Goodrich UTC, Moog, Bombardier, Rolls-Royce and BAE Systems.
Funding for the deal was provided by Lloyds Commercial Finance, and the management team was backed by Ruth Murday of corporate law firm Hawkins Hatton.
Established in Birmingham in 1996 to meet the aftermarket requirements of the aerospace sector, AE Aerospace carries out engineering solutions to the civil precision components market and works on military projects.
Mr Bruch said: “We are looking forward to the future and we will be working to re-invest in our people and equipment to extend and improve our service to our customers."
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