Avingtrans is to acquire B&D Patterns, the Hinckley-based manufacturer of jet engine components with 155 staff, for up to £10m. Payment will be made in cash and shares, with a deferred consideration of £3.5m subject to an earn-out calculated on B&D's profit margins during 2006 and 2007. Founded 45 years ago, B&D is now a market leader in its industry and customers include Rolls Royce, Messier Dowty and Dunlop Aerospace. Avingtrans will group the business with the recently-acquired Sigma Precision Components business and its C&H Precision Finishers subsidiary. "The synergies of the three individual businesses will offer tremendous opportunities to leverage off each other and enjoy the benefits of growth as part of a group of very exciting companies." said Ken Baker, chairman of Avingtrans. B&D owns freehold properties to the value of £3.1m and had net assets of £2.5m at 31st December 2005.
