(Alliance News) - Senior PLC on Monday said it completed the acquisition of Spencer Aerospace Manufacturing LLC.
The Hertfordshire-based high-tech components and systems manufacturer said the acquisition enhances its industry-leading fluid conveyance capabilities.
Spencer Aerospace is a US-based manufacturer of highly engineered, high-pressure hydraulic fluid fittings for use in commercial and military aerospace applications.
Senior Chief Executive Officer David Squires said: "Our combined expertise and market reach will allow us to satisfy existing and new customer requirements for source-controlled fittings and rapidly grow associated revenues."
Senior added that it has paid the initial consideration of USD30 million.
Earlier this month, Senior noted said in the 10 months that ended October 2022, revenue grew 19% from a year ago, while its order book remained strong with a book-to-bill ratio of 1.28.
Senior shares were down 1.1% at 121.40 pence each on Monday morning in London.
By Xindi Wei; xindiwei@alliancenews.com
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Senior (SNR)