In a blast from the past, TT Electronics has acquired the Ferranti Power and Control business in Manchester for £9m (€11m, $12m)
The business has been part of Elbit Systems of Israel as part of Ferranti Technologies since 2007 and was originally part of the Manchester-based Ferranti group that helped drive the computer and semiconductor industry in the 1970s and 80s.
Afte the deal, Elbit plans to restructure its UK business to integrate the remaining business of Ferranti Technologies, including training and simulation, avionics, display systems, aircrew survival systems, platform protection and computing, into Elbit Systems UK (see below).
Ferranti P&C will become part of TT’s UK aerospace and defence business, adding to the power conversion and power management portfolio. As Ferranti manufactures power products in the UK this brings opportunities for supply chain streamlining and consolidation for many key industry partners says TT. This is because Ferranti P&C is part of a range of recognised programs across both the military aerospace and commercial and business aerospace sectors with sole-sourced positions on major key platforms.
TT says it will invest in the business to accelerate growth prospects and support continued expansion of differentiated engineering capability for the design and development of custom high-reliability power solutions.
“We are delighted to have completed the acquisition of the Ferranti Power and Control business. This represents a significant step and great addition for our power capability,” said Richard Tyson, CEO, TT Electronics. “The organisation is an ideal strategic fit within our existing UK footprint and adds further credibility and significant engineering expertise to our aerospace and defence offering. It’s fantastic to be able to welcome the Ferranti Power and Control team into the TT group.”
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The business joins the recent acquisitions of Torotel and Excelitas in the US and Stadium Power in the UK to build up its power business.
“The acquisition of Ferranti Power and Control is well aligned with our global strategy of becoming a world leader in power conversion and power management,” said Michael Leahan, COO of TT Electronics. “The addition of their talented team of engineers and product portfolio will help us build leading positions in high-reliability markets including aerospace and defence. The business fits well with our two most recent power electronics acquisitions in the USA, and we are now in an even stronger position to provide high-performance power solutions and a world-class service experience to our combined network of blue chip customers.”
Elbit UK now has ten sites employing over 500 people engaged in a range of high tech and specialist manufacturing activities for both military and civilian applications. It has two joint ventures, delivering the Watchkeeper UAV programme for the British Army and supplying and supporting a fleet of 38 aircraft for the UK MOD Military Flying Training School. Elbit Systems UK was also recently selected by the UK MOD to provide the MORPHEUS Battlefield Management Application for the British Army.
“This reorganization is part of our strategy to focus activities on certain areas in order to support the continuous expansion of our operations and collaborations in the UK,” said Martin Fausset, CEO of Elbit Systems UK.
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