A Manchester-based supplier to the aerospace sector has acquired a Wirral-based tech specialist taking its group of manufacturing companies to six.
Aero Services Global (ASG) makes and sub-assembles airframe structural equipment, and the acquisition of AMF Precision Engineering is the latest in its bid to target new opportunities in the defence and medical sectors.
The Wirral-based sub-contract technology specialist joins six other businesses in the group, providing additional machining capabilities and direct access to customers in medical, defence and research centres across Europe.
It comes weeks after ASG secured a £31m funding package from Magnetar Capital and Close Brothers Invoice Finance to support its three-year growth plans.
Simon Weston, managing director of the £43m ASG Group, said: “AMF Precision Engineering is a market leader in its field and fits perfectly with our commitment to offer our global customers world class expertise, niche capabilities and outstanding customer service.
“The long machining bed means we will be able to deliver specific work packages previously out of our reach in aerospace, not to mention giving us an immediate footprint in medical, life sciences and defence…three areas that could benefit from technology perfected in aerospace.
“Whilst Covid-19 has created a number of unexpected challenges, we are still confident that our agility and single source expertise in tooling and manufacturing of critical components can deliver an increase in sales."
The group, which employs nearly 380 people, is split into two core divisions focusing on aerospace and tooling.
Mr Weston added: “The management team has been working hard over the last three years to strategically enhance our customer base and identify companies that will give us access to the best talent and technologies.
“Recent investment by Magnetar Capital and Close Brothers Invoice Finance gives us the funding boost we need to realise these plans.”
Simon Kirkman, managing director of AMF Precision Engineering, added: “This is a great move for our business and brings us into a family of like-minded companies, who thrive on pushing the boundaries of innovation and world class manufacturing expertise.
“There are a lot of complementary expertise and we bring the additional benefits of new machining capability and a dedicated clean room, ideal for supplying medical clients, research centres and for supporting the aerospace sector.
“We’ve already identified and made initial moves towards securing new med-tech work for AS.G and our recent approval to AS9100 will allow us to pitch for aerospace contracts. It’s a real win-win.”
ASG said it now wants to enhance its international footprint by adding to its existing operations in the EU, and formalising a joint venture agreement in India over the next six months.
