Darwin Private Equity has acquired Hampson Aerospace Machining (HAM) from Hampson Industries for £23.7 million in cash.

Darwin Private Equity has acquired Hampson Aerospace Machining (HAM) from Hampson Industries for £23.7 million in cash.

Birmingham-based HAM specialises in the precision machining of metallic components for gas turbine engines and similar applications, and employs 300 staff. As part of the deal, John Hudson, former chairman of Birmingham International Airport, will join the existing management team as chairman, as will Jeff Walker, who will be finance director.

Hampson chief executive Kim Ward said: ‘The disposal of HAM marks an important step in streamlining the group’s portfolio as we concentrate our efforts on sectors where we can take advantage of higher long-term growth rates and generate tangible synergies.’

For the year ending March 2009, HAM generated revenue of £28.3 million and pre-tax profits of £2.3 million.

The deal is the second for London-based firm Darwin, which was established in 2007 and focuses on investing in companies with enterprise values of between £10 million and £100 million.