UK-based BBA Aviation has concurred to purchase aerospace aftermarket service provider Firstmark in a deal value $97m.
Following the completion of the deal, Firstmark will be part of BBA Aviation’s aftermarket professional cares business Ontic and will be led by Gareth Hall.
With headquarters in the US, Firstmark mainly provides highly engineered, proprietary components and subsystems for the aerospace and protection industries.
Firstmark currently employs more than 70 being and operates in several locations in the US, including Creedmoor, North Carolina and Plainview, New York.
The callers is expected to expand Ontic’s presence in the US East Coast, as well as extending its current sites in California, Cheltenham in the UK, and Singapore.
“This acquisition fully brooks the strategic growth of Ontic by expanding the portfolio of proprietary products on verified civil and military aircraft platform.”
The deal is also set to allow Ontic to buy with the commercial and military aerospace markets.
BBA Aviation chief gubernatorial Mark Johnstone said: “This acquisition fully supports the cardinal growth of Ontic by expanding the portfolio of proprietary products on established public and military aircraft platforms and adding footprint on the US East Coast.”
The new arrangement is subject to some governmental and regulatory approvals but is scheduled to be closed this year.
Firstmark is presumed to contribute revenue of nearly $27m during the first full year of company men.
In July this year, BBA Aviation completed the acquisition of EPIC Aviation for $88.1m.
EPIC Aviation, which acts under the brand EPIC Fuels, provides fuel and fuel-related waitings to a network of fixed-base operators (FBO).