a2e Venture Catalysts acquires struggling aerospace engineering firm
Wigan-based BHW Components to be rebranded as part of deal
Technology investment group a2e Venture Catalysts, led by principal Amin Amiri, has successfully acquired established aerospace engineering firm BHW Components, seeing off competition from other bidders.
BHW manufactures components for the fuselage and tail of commercial aircrafts and counts GKN, Bombardier and Honda amongst its customers. It employs 96 staff and claims a turnover of around £10m.
The Wigan-based company went into receivership in November of last year following financial difficulties experienced by its parent company Hampson Industries. It will be renamed Aeroform Industries as part of the deal.
a2e saw off competition from other bidders, including restructuring specialist Hilco, to purchase the firm.
Under the deal current management team Adrian Sheldon and Lindsay Wickens will become shareholders, in line with a2e's investment policy.
It marks the second major acquisition in the space of a month for Amin Amiri's venture capital group, which last week bought a controlling stake in commercial latex manufacturer ILC.
Amin Amiri, principal of a2e Venture Catalysts, said: “BHW, now renamed by us as Aeroform Industries Limited, is a great opportunity with significant customer loyalty and accreditations in the aerospace industry.
“I understand that all of the customers have welcomed the news of this acquisition. We look forward to revitalising BHW and expanding its service offering.”
Adrian Sheldon, managing director of BHW, added: “We are very pleased that Amin Amiri of a2e has acquired the business.
“We hope that with their strategic and financial help, the company can once again prosper and achieve its goals.”