The Lancashire-based business has purchased Gentz Industries, which manufactures ‘high-precision’ engine components in the US for the aerospace industry, in what is described by the company as a multi-million pound transaction.

On completion of the deal MBAe see its revenues increase to over $80 million per year and will inherit customers including Rolls-Royce, Volvo Aerospace and the US Department of Defense.

Craig Gallagher, chief executive of MBAe, comments: ‘This multi-million dollar acquisition is part of our long-term strategy to grow our core aerospace business internationally.

‘Our UK businesses continue to perform well, reporting an annual increase in revenue of 20 per cent for the last four consecutive years, and this acquisition opens up real opportunities for us to grow the business and develop long-term prospects in a mature aerospace market.’

As well as its base in Burnley, Lancashire, MBAe also has UK operations in Derby and Motherwell.

Gallagher adds that there are ‘very strong’ synergies between the US and UK operations but two ‘very distinct’ customer bases which will provide the opportunity to leverage the capabilities of both businesses into new markets.

The deal sees the bringing together of Gentz Industries’ 250-strong workforce with MBAe’s 150 staff.

Roger Bartolemei, chief operating officer at Gentz, says that Gentz has ‘invested heavily’ during the past four years in the capacity and capability of its plant.

He adds: ‘MBAe recognise the tremendous capabilities we have developed in Michigan and we are looking forward to developing our industry-leading complex component solutions business in partnership with MBAe.’