Aero Stanrew solves complex technical challenges in product areas and for a customer base which overlaps with a number of TT's businesses. The combination of TT and Aero Stanrew provides the opportunity to accelerate TT's strategy to offer a wider range of capabilities to a broader base of tier 1 customers and increase exposure to aerospace and defence one of TT's core markets. Aero Stanrew has a well-established position in the market and with access to TT's global networks and expertise they can increase the scope of future offerings into their existing customer base.
Commenting on the acquisition Richard Tyson Chief Executive said "We have a clear goal to return to sustainable profitable growth. The acquisition of Aero Stanrew accelerates our strategy and strengthens our position in growth areas of the aerospace and defence market enhancing the Group's technology and product portfolio."
He added "Aero Stanrew is an excellent business and has significant further potential as part of TT. There is a strong technology customer and cultural fit between the two businesses; there is mutual benefit in making Aero Stanrew part of the Group. I am really excited about the prospects of this combination and I am delighted to welcome Aero Stanrew's MD Clive Scott and all Aero Stanrew employees to TT Electronics."
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