International aerospace engineering group MB Aerospace has acquired Delta Industries with the help of its private equity backers.

The Motherwell-headquartered business has received capital from LDC and Arlington Capital Partners to buy the business, which is based in the US and provides components for the commercial and military aero-engine and industrial gas turbine markets.

In 2007, LDC backed the management buy-out of MB Aerospace and has, through the new deal, exited to Washington DC-based private equity fund Arlington Capital Partners.

Under the ownership of LDC, MB Aerospace has grown its turnover from $28 million (£18.3 million) to $81 million and closed a host of acquisitions including Thomson Aero out of administration and engine components business Gentz Industries.

The purchase of Delta is said to ‘fully complement’ MB Aerospace’s UK operations and its US base in Detroit. It is the first in a planned series of acquisitions by MB Aerospace.

Craig Gallagher, CEO of MB Aerospace, says that the business was attracted by Delta’s ‘strong’ management team and long-standing customer relationships.

He adds, ‘We are delighted to have succeeded in securing such a highly-prized company and the Delta acquisition represents an important step towards a progressive widening of MB Aerospace’s capability footprint to address the critical needs of our engine OEM customers.’

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The purchase of Delta will take MB Aerospace’s revenues to $160 million and the combined businesses will now have a workforce of 550.

LDC has now closed nine investments in 2013, having invested £160 million of new funding and a further £40 million of capital to support portfolio business acquisitions.

Martin Draper, regional managing director at LDC, says, ‘MB Aerospace and its management team is well known to, and highly regarded by, the LDC team having backed the initial buy-out in 2007.

‘This is a sector we know well and we are delighted to be re-investing in the business at this exciting time following the Delta acquisition.’