TT Electronics snaps up Ferranti power business
TT Electronics has acquired the Ferranti Power and Control business (Ferranti P&C) 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.
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.”
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.
Michael Leahan, COO, TT Electronics added: “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.”