Motherwell-based engineering group MB Aerospace has completed the acquisition of Centrax Turbine Components based in Devon, England.
It is the first acquisition for MB Aerospace following the recent investment in the business from private equity firm Blackstone and will see the 430-staff turbine components firm rebranded as MB Aerospace Newton Abbot.
Centrax Turbine Components is a family business which manufactures turbine engine components on a single site and is entering its 70th year of growth.
The acquisition takes the MB Aerospace Group to around 1,400 staff across the UK and in Connecticut, Detroit and Poland.
Centrax serves the aero-engine and industrial gas turbine market and its key customers include Rolls-Royce, Snecma and Solar.
Craig Gallagher, MB Aerospace chief executive officer, said: “The acquisition of Centrax Turbine Components is a perfect fit for the MB Aerospace group strategy, enhancing our customer diversification, addressing new capabilities of highly-engineered rotating components in the compressor and turbine sections of the engine as well as bringing many special process technologies and capabilities to our operations in the UK.”
Robert Barr, Centrax chief executive, said: “Through nearly 70 years of sustained investment and technological development the Barr family have been proud to lead the aerospace manufacturing operations of Centrax Turbine Components here in Devon.
“In MB Aerospace we have found a custodian which shares our values and commitment to the region, as well as the significant pool of high-tech manufacturing expertise we have built up through time.
“We will watch their progress and growth of the operation with renewed excitement for the future and the potential of this great business.”