DCSIMG

Dual success for funding experts

Corporate financial adviser Hardy Transaction Management has helped AIM-listed precision engineer Avingtrans to complete its second acquisition in less than a fortnight.

Avingtrans, based at Sandiacre, in Nottingham, called on Sheffield-based Hardy to help its aerospace division buy Derby aerospace component supplier Aerotech Tubes for £2 million.

Mark Johnson, managing director of Avingtrans’ aerospace division, said: “This is the second acquisition since the £13.45 million sale of our Jena Tec business.

“We are delighted that we’ve since been able to add two quality businesses to the Aerospace division for a total of £3.85 million in such a short space of time.

“We look forward to bedding in these two businesses and remain alert to further opportunities.”

Hardy Transaction Management’s Paul Hardy acted as lead adviser to Avingtrans.

Mr Hardy said: “We are delighted to have worked with the Avingtrans executive team on this second successful acquisition in November for their Aerospace Division.

“Our experience and expertise in this sector enabled us to deliver highly focused advice and transaction management which helped conclude the deal within the principal’s required timeframe.”

The earlier Avingtrans deal steered through by Hardy involved the acquisition of PFW Farnborough’s aerospace components operations.

 

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