Tods Aerospace & Defence, a £16m turnover and Somerset-headquartered business, has been acquired by AGC Aerospace & Defence, a US based business.
Tods specialises in the engineering, design and manufacture of advanced materials technology for aerospace and naval acoustic structures.
Simon Finch, president of Tods Aerospace & Defence, said: “By joining such an innovative and strategically focused team, Tods will become a more resourceful strategic partner to our customers, and also be better positioned to address significant market trends.”
“Tods will play an integral role in the strategic advancement of our group platform as we further penetrate the European, Middle East and Asian marketplaces.” added Rick Armstrong, president and chief executive of AGC Composites & Aerostructures.
Isca Ventures acted as the lead advisors to the shareholders of Tods and managed the international company sale process. Michelmores Solicitors provide legal support to the shareholders of Tods. Caltius Capital Management and PNC Bank provided debt financing for the transaction. Lincoln International represented the buyer.
Stuart Crebo, partner at Isca Ventures, said: “This was a complex transaction which called for corporate sale, international and private equity expertise. We’ve been on the journey with Tods for some time and are delighted to have been able to play a part in this successful international company sale.”
