Share Prices & Company Research

Market News

18 Sep 2018 | 07:19

BBA Aviation to acquire Firstmark for $97m

BBA Aviation said Tuesday it would acquired Firstmark Corp, an aerospace focused aftermarket service provider, for $97m.

Firstmark was a provider components and subsystems for the aerospace and defence industries.

The company employed over 70 people and had locations in Creedmoor, North Carolina and Plainview, New York.

Firstmark would be part of Ontic, BBA's aftermarket services business, which was under Gareth Hall's leadership, BBA Aviation said.

Firstmark was expected to be highly-complementary to Ontic's existing sites in Chatsworth, California, Cheltenham in the UK and Singapore.

The acquisition, subject to certain governmental and regulatory approvals, was expected to be completed in late 2018. 'We are pleased to have reached an agreement to acquire Firstmark. This acquisition fully supports the strategic growth of Ontic by expanding the portfolio of proprietary products on established civil and military aircraft platforms and adding footprint on the US East Coast,' said Mark Johnstone, BBA Aviation Chief Executive.

Story provided by StockMarketWire.com
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.