GKN is to acquire US engine and airframe vendor Astech for $32 million in cash.
Astech develops superalloy, honeycomb structures and key airframe and engine products which operate in high stress, high temperature environments. It supplies most US civil programmes and a number of current military aircraft.
Astech’s technology is based on welded titanium and alloy steel honeycomb panels which are formed into three dimensional structures using proprietary manufacturing processes. The company is also active in the civil and military aftermarket which GKN has identified as a growth opportunity.
Astech will be integrated organisationally with GKN Aerospace Chemtronics, a San Diego, CA-based supplier of advanced titanium components for military and civil airframes and engines. The company is also involved in the aerospace aftermarket.
Based in Santa Ana, CA, Astech employs 165 people and is primarily owned by two private equity firms and management. The transaction is conditional on US regulatory approvals.