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Senior PLC on Monday said it completed the acquisition of Spencer Aerospace Manufacturing LLC.
The Hertfordshire-based high-tech components and systems manufacturer said the acquisition enhances its industry-leading fluid conveyance capabilities.
Spencer Aerospace is a US-based manufacturer of highly engineered, high-pressure hydraulic fluid fittings for use in commercial and military aerospace applications.
Senior Chief Executive Officer David Squires said: ‘Our combined expertise and market reach will allow us to satisfy existing and new customer requirements for source-controlled fittings and rapidly grow associated revenues.’
Senior added that it has paid the initial consideration of $30 million.
Earlier this month, Senior noted said in the 10 months that ended October 2022, revenue grew 19% from a year ago, while its order book remained strong with a book-to-bill ratio of 1.28.
Senior shares were down 1.1% at 121.40 pence each on Monday morning in London.
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