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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.

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