Aerospace specialist targets medical and defence sectors with latest acquisition
A £43million critical supplier to the aerospace sector has made its latest acquisition, as it looks to target new opportunities in the defence and medical sectors.
Manchester-based Aero Services Global Group (AS.G), which manufactures and sub-assembles detail airframe structural equipment and aero engine components for more than 20 leading primes and tier 1s, has welcomed AMF Precision Engineering to its portfolio of companies.
The Wirral-based sub-contract technology specialist joins six other manufacturing businesses in the group and provides additional clean room and long bed machining capabilities, not to mention direct access to customers in medical, defence and a host of research centres across Europe.
It comes just a few weeks after AS.G secured a £31m funding package from Magnetar Capital and Close Brothers Invoice Finance to support ambitious three-year growth plans.
“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,” explained Simon Weston, who joined as AS.G Group Managing Director in 2017.
“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.”
He continued: “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 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.”