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Gloucestershire Business News

Gloucestershire aerospace firm sold to Italian group

Magnaghi Aeronautica Group has acquired Five Valleys Aerospace Ltd, a specialist in manufacturing components and supplier of surface treatments for the aerospace industry.

Five Valleys Aerospace has been based in Stroud since 2003 and is the parent company of Nu-Pro Ltd and Stanmar Ltd.

These businesses offer specialist services in five main areas: non destructive testing, electroplating, painting, machining and chemical milling. The business also provides support with bonding, sub-assembly and sub-contract operations.

Magnaghi Aeronautica is headquartered in Naples, Italy and has a strong presence in Brazil and the United States thanks to its well-established offices.

Founded in 1936 to support the flight activities of the Italian Air Force, Magnaghi Aeronautica's mission is said to have always focused on innovation in the sector. It is a leading provider of landing gear systems and composite aerostructure components for helicopter and medium-sized aircraft platforms.

It said the acquisition of Five Valleys Aerospace Ltd strengthens its stake in the European market, as well as expanding its global presence.

Alberto de Benedictis, Magnaghi (UK) chairman, said: "The UK aerospace market offers major opportunities; there are a number of programs that are of interest to us, including the Tempest. The acquisition of Five Valleys Aerospace is just the first step in our journey to become a major player in the market as a supplier of engineering capability and components for the aerospace sector. We intend to expand our presence not only in the UK market but also the UK export market."

The deal was advised by Bristol-based accountants Harbourside Corporate Finance and the law firm Foot Anstey LLP.

Adam McKenna, partner at Foot Anstey LLP, said: "We're delighted to have supported the team at Magnaghi Aeronautica Group in this acquisition and its entry into the UK market in order to facilitate its ambitious growth plans."

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