LONDON (Alliance News) - BBA Aviation PLC said Tuesday it has acquired US based Firstmark Corp, an aerospace focused aftermarket service provider, for USD97 million.
The aviation support and aftermarket services provider said the Firstmark will become part of the company's aftermarket services business, Ontic.
The acquisition is expected to expand Ontic's US footprint to the US east coast and exposure to the commercial and military aerospace markets.
Firstmark provides engineered, proprietary components and subsystems for the aerospace and defence industries. It employs over 70 people and has locations in Creedmoor, North Carolina, and Plainview, New York.
Firstmark is expected to contribute revenue of around USD27 million in its first full year of ownership. The acquisition is expected to complete late in 2018.
Shares in BBA were trading 2.8% higher at 300.00 pence each on Tuesday morning.
