Saygrove Ltd.
Owners of Saygrove Defence & Aerospace Group Ltd., Steve Ward and Gary Parkes eager to grow their business, approached BCMS to investigate the possibility of a sale. BCMS was able to identify a substantial amount of potential acquirers, generating nine meetings and multiple offers for the 70 employee strong business from interested parties before agreeing to terms with Triumph Actuation and Motion Control Systems Group. Deal Leader Luc Juffkins commented, “There is strong demand from acquirers for good companies. Our proactive marketing approach to selling businesses enables us to locate buyers that might otherwise not be aware of the opportunity to acquire our client’s businesses.”
BCMS certainly found an acquiring company with strong synergies; Saygrove, which will operate as Triumph Actuation & Motion Control Systems-UK, is expected to contribute $11 million to Triumph’s revenue for fiscal year 2010. Richard C. III, Triumph’s President and Chief Executive Officer, said, “We view this acquisition as a unique opportunity to expand our capabilities because it represents the next generation of electronic controls for actuation and motor control. We believe that Saygrove’s products and technologies allow for significant advancements in the type of work that we can pursue and positions us well for future growth. We are pleased that the management team, led by Steve Ward and Gary Parkes, will remain with Triumph.”
About Saygrove Defence & Aerospace Group Ltd.
Saygrove Defence & Aerospace Group is a U.K-based provider of motion control and actuation products to the aerospace and defense industry. Saygrove designs and builds proprietary advanced control products for flight actuation and motor control application in all-electric aircrafts and Unmanned Aerial Vehicles (UAVs). For more information, please visit www.triumphgroup.com/companies/triumph-actuation-motion-control-systems-uk.
About Triumph Aerospace Systems Group
Triump Group, Inc., headquartered in Wayne, Pennsylvania; designs, engineers, manufactures, repairs, and overhauls aircraft components and accessories. The company serves a broad worldwide spectrum of the aviation industry, including original equipment manufacturers of commercial, regional, business, and military aircraft and aircraft components, as well as commercial and regional airlines and air cargo carriers. For more information, visit www.triumphgroup.com .
