TT Electronics acquires Ferranti P&C from Elbit Systems
Provider of engineered technologies for performance critical applications, TT Electronics, today announced it has acquired the Ferranti Power and Control business (Ferranti P&C) - a UK based manufacturer of power electronics for aerospace and defence - from Elbit Systems, for £9 million.
Above:
Elbit Systems UK's Joint Fires Synthetic Trainer is now under the Elbit Systems UK Aerospace and Simulation Business Unit.
Courtesy Elbit Systems
Provider of engineered technologies for performance critical applications, TT Electronics, today announced it has acquired the Ferranti Power and Control business (Ferranti P&C) - a UK-based manufacturer of Power Electronics for Aerospace and Defence - from Elbit Systems, for £9 million.
Ferranti P&C is a UK based manufacturer of power electronics and power systems for the aerospace and defence markets located in the greater Manchester area.
The acquisition strengthens TT’s UK aerospace and defence footprint and further enhances the capabilities of their power conversion and power management portfolio. With a recognised and reputable customer base, many of whom are supported by TT already, this acquisition will also bring opportunities for supply chain streamlining and consolidation for many key industry partners.
Ferranti P&C provides access to a range of recognised programs across both the military aerospace and commercial and business aerospace sectors with sole-sourced positions on major key platforms. TT is committed to investing in the business further to accelerate growth prospects and support continued expansion of differentiated engineering capability for the design and development of custom high-reliability power solutions.
Richard Tyson, CEO, TT Electronics commented: “We are delighted to have completed the acquisition of the Ferranti Power and Control business. This represents a significant step and great addition for our power capability. The organisation is an ideal strategic fit within our existing UK footprint and adds further credibility and significant engineering expertise to our aerospace and defence offering. It’s fantastic to be able to welcome the Ferranti Power and Control team into the TT group.”
Michael Leahan, COO, TT Electronics said: “The acquisition of Ferranti Power and Control is well aligned with our global strategy of becoming a world leader in power conversion and power management. The addition of their talented team of engineers and product portfolio will help us build leading positions in high-reliability markets including aerospace and defence. The business fits well with our two most recent power electronics acquisitions in the USA, and we are now in an even stronger position to provide high-performance power solutions and a world-class service experience to our combined network of blue chip customers.”
Elbit Systems UK's sale of Ferranti Technologies’ Power and Control business to TT Electronics plc, confirms its strategy of focusing on the growth of its core business through continued investment and consolidating its market position as a leading provider of advanced technology-enabled solutions and services. These changes will allow the company to focus its extensive knowledge and skills on developing new and innovative technology solutions and growing the company’s footprint in specific areas, to meet the future capability requirements of the UK Armed Forces.
The newly designated Elbit Systems UK Aerospace and Simulation Business Unit, will continue to provide cutting-edge technology solutions to the UK Ministry of Defence, ranging from advanced simulation capabilities for the Army such as the Joint Fires Synthetic Trainer (JFST) and Interim Combined Arms Virtual Simulation (Deployable) (ICAVS (D)), as well as being the Synthetic Integrator for the Fisher Consortium to the Royal Navy through the Selborne Programme.
Martin Fausset, CEO of Elbit Systems UK said: “We are pleased to confirm continued successful progress in implementing Elbit Systems UK's strategy. Elbit Systems UK already has an impressive footprint across the UK, providing a range of advanced systems for the UK Ministry of Defence.
"This re-organisation will allow us to guarantee and invest in the knowledge, skills and technical expertise required to support the British Armed Forces now and in the future.”