GKN, the Worcestershire based engineering giant, has agreed to acquire a Dutch aerospace supplier from private equity firm Arle Capital for an enterprise value of £499m.
Fokker Technologies Group makes aerostructures, electrical wiring systems and landing gear for commercial, military and business jet markets. The deal will allow GKN Aerospace, which is headquartered in Redditch, to reinforce its presence in the market, as well as expanding into China, Turkey, India and Mexico.
GKN chief executive Nigel Stein said: "Fokker is an excellent strategic and cultural fit which supports our growth strategy. It strengthens GKN Aerospace's market leadership, manufacturing footprint and technology. This transaction will increase our shipset value on key growth programmes in both the commercial and military markets including Fokker's complementary positions on the A350 and the F-35. Fokker's sizable China operations also help boost GKN Aerospace's activity in this important region." GKN will fund the deal through a £300m equity placing.
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