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UK-based private equity firm a2e Venture Catalysts has acquired aerospace components manufacturer BHW for an undisclosed fee.

a2e Venture Catalysts beat other bidders, including Hilco, to acquire BHW, which entered into administration in April.

BHW, based in Wigan, England, is an aerospace firm that manufactures parts for use in the fuselage and tail of the aircraft, and also provides airframe solutions for airframe components and assemblies.

The company has a turnover of approximately £10m and employs 96 people. It supplies components to leading aerospace firms such as GKN, Airbus, Bombardier, BAe, and Honda.

BHW reported revenues of £11.4m and a loss of £3.9m for the financial year ending 31 March 2011.

Under the acquisition agreement, the current management team of BHW, Adrian Sheldon and Lindsay Wickens, have become shareholders, in line with a2e’s investment model.

In addition, BHW will be renamed Aeroform Industries.

"We hope that with their strategic and financial help, the company can once again prosper and achieve its goals."

The Duff & Phelps served as administrators to BHW, while legal services on the transaction were provided by Gateleys and Shoosmiths.

Commenting on the acquisition, a2e Venture Catalysts founder Amin Amiri said: "I understand that all of the customers have welcomed the news of this acquisition. We look forward to revitalising BHW and expanding its service offering." .

BHW managing director Adrian Sheldon added: "We hope that with their strategic and financial help, the company can once again prosper and achieve its goals."

a2e is an investment company focusing on the mid-market companies and investing in established, underperforming, industrial/manufacturing companies or those businesses anticipating hyper growth.

Image: BHW supplies components to aerospace firms such as Bombardier, Airbus and GKN. Photo: courtesy of Bombardier.

Defence Technology