(Bloomberg) – Investment firm Sullivan Street Partners is reaching an agreement for the aviation structural units of the British Engineering Group Senior PLC, which provides parts to Airbus SE and Boeing Co.
People say London-based Sullivan Street could reach a final agreement with senior companies in the coming weeks because the information is private and therefore requested disagreement. The people said a deal would value about £200 million ($268 million) on operations of the senior aviation structure.
People say Sullivan Street is expected to beat other suitors, including investment company Aurelius. People say that despite the talks being carried out, the agreement can still be delayed or collapsed. Senior and Aurelius representatives declined to comment. A Sullivan Street spokesperson could not be contacted for comment.
This has been “further progress” and “detailed discussions with the parties”, senior sources said last week. The company will end long searches for sales since 2019, and the company has been working with consultant Lazard Inc. to sell its aviation structure business.
The divestment will bring senior England-based personnel to a focus on their fluid transport and thermal management operations and subsystems. According to its website, it operates in 12 countries. The board of directors predicted last week that the group would “grow well” with the help of its aerospace business in 2025. The company has a market capitalization of £560 million.
Its website shows that Sullivan Street focuses on the lower market and acquires control of British businesses. The investment company recently acquired three marine infrastructure companies in the UK.
– Assistance with Swetha Gopinath.
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