Saygrove acquired by Triumph Actuation and Motion Control Systems Group
Owners of Saygrove Defence & Aerospace Group Ltd., Steve Ward and Gary Parkes were eager to grow their business and approached BCMS to investigate the possibility of a sale. BCMS understood Steve and Gary’s concern; they wanted to locate a buyer that would allow them to stay on the management team. By highlighting Saygrove’s significant potential for growth, presence in a niche market, and profitable company, BCMS identified Triumph as one of the natural fits.
BCMS was able to entice interest from a substantial amount of potential acquirers, selecting the top 8 suitors with whom to hold initial meetings. Due to the strength of Saygrove and the strong strategic value presented in the acquisition opportunities, multiple offers were received from interested parties.
Ultimately, Ward and Parkes agreed that Triumph Actuation and Motion Control Systems Group provided the best future for themselves and their company. 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.” Furthermore, creating a competitive market of potential acquires allows the client to dictate the terms of the deal.
Daily Post North Wales featured the sale and reported, “BCMS Corporate, which brokered the sale, received a number of approaches from interested parties across the world before clinching the deal with the Pennsylvania-based business which is part of the Triumph Group, one of the world’s largest producers of aircraft components and accessories. Saygrove will operate as Triumph Actuation & Motion Control Systems-UK. Its new owners said it is expected to add approximately £7.7m of revenue in 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. The company employs more than 70 people on Catheralls Industrial Estate, Buckley, designs and makes all-electric controls that keep an aircraft in the air and is a key supplier of components to international aerospace giants such as GE Aviation and BAe Systems. 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.
