Mon, 09 Apr 2018 | BUSINESS SALE
Rolls-Royce has announced it will sell its fuel injection company L'Orange to US firm Woodward in a £610 million deal as part of its plans to boost its balance sheet and boost the capital available to the firm for use in pursuing opportunities that will provide greater returns.
The sale of the Rolls-Royce Power Systems subsidiary has been backed by the boards of both firms in the hope it will "improve the resilience" of the company's profits and is expected to be completed by June 2018.
The sale will take place under the leadership of chief executive and former ARM chief Warren East, who began selling some of the company's assets when its fell in financial trouble two years ago.
Commenting on the forthcoming sale, Mr East stated that it would enable Rolls-Royce to apply greater focus on other high-growth opportunities and to ensure funds are allocated to developing core technologies that provide strong returns in the long-term.
"This transaction builds on the actions we have taken over the last two years to simplify our business," he said. "We have enjoyed working with L'Orange who have a leading position in their markets, excellent technology, a skilled workforce and strong leadership. We wish them well as they join the Woodward organisation."
Rolls-Royce announced a return to profit in March 2018, marking a significant recovery following its fall into the red by £4.6 billion in 2016. As well as benefitting from division sales, the company also gained a £2.6 billion accounting boost as a result of the strengthening of the pound.
Manufacture and supply of high quality, hard metal, flanges and butt welds with machining services. Enviable reputation. Niche offering. Long standing relationships with suppliers. In-house manufacturing capabilities. Diverse client base including m...
A long established company, specialising in the manufacture of a full range of Printed Circuit boards for a a wide spectrum of industries including the automotive and aerospace sectors. Offers invited.
LEASEHOLD
Highly experienced company specialising in the design & manufacture of high-end gift & confectionery boxes, as well as corporate promotional packaging. Supplies bespoke presentation packaging to clients in the food, fashion, cosmetics & gift product...
|
22
|
|
Jan
|
Jewellery retailer enters administration | ADMINISTRATION
A Nottingham-based jewellery and watches company has fallen ...
|
19
|
|
Jan
|
Luxury lodging group enters administration | ADMINISTRATION
An Essex-based company which operates eight luxury lodge par...
|
17
|
|
Jan
|
Fine paper business enters administration | ADMINISTRATION
Arjowiggins UK, which operates a number of trading companies...
Sign up to receive our acquisition alert emails to get your FREE guide
|
12
|
|
Mar
|
AE Aerospace on route to expand after MBO | MBO/MBI
The directors of engineering solutions firm AE Aerospace hav...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources