UK engineer Senior sells aircraft parts business in £200m deal
The Rickmansworth-based manufacturing and engineering firm said had previously flagged the potential sale as it pursues a leaner structure.
It follows production issues at its key supplier Boeing and the enduring damage to its operations caused by the pandemic.
Aerostructures, Senior's largest division, builds the structural components of an aircraft's airframe, including the wings and flight control surfaces.
The FTSE 250 firm will receive an initial consideration of £150million and could bag an additional £50million in the first half of next year if the Aerostructures business meets certain performance targets in 2025.
Senior said the sale helps position the business 'as a market leading pure play fluid conveyance and thermal management business'.
Boss David Squires added: 'This sale aligns with the long-term interests of our shareholders, customers, employees and other stakeholders.
'Our remaining high quality fluid conveyance and thermal management business is well positioned to deliver attractive growth, improved margins, and better returns on capital with strong operating cash flow performance.
'With our global footprint and operating in attractive and structurally resilient end markets, Senior is well-placed to deliver sustained profitable growth and create enhanced value for our shareholders.'
Senior shares jumped 8.4 per cent to 204p approaching midday, aided by a £40million share buyback programme also announced on Friday.
The shares have added around 25 per cent since the start of 2025 and more than 250 per cent over the last five years.
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