GKN plc has agreed to acquire Fokker Technologies Group B.V (“Fokker”) from Arle Capital for an enterprise value of €706 million (£499 million).
Fokker is a specialist Tier 1 supplier to the commercial, military and business jet markets and has almost 5,000 employees. It is headquartered in the Netherlands and has operations in Europe, North America and Asia. In the year ended 31 December 2014, Fokker generated revenue of €758 million.
Fokker specialises in the design, development and production of lightweight aero structures, electrical wiring interconnection systems and landing gear. It also provides maintenance, modification and logistic services to aircraft owners and operators.
‘Fokker is a great business with strong customer relationships and a recognised commitment to the development and application of innovative technology,’ said Kevin Cummings, chief executive, GKN Aerospace. ‘It is an excellent business that fits well with GKN Aerospace. Strategically, this acquisition strengthens GKN Aerospace’s position as a market leader, enhances its global manufacturing footprint and adds new technology. It also increases GKN’s shipset value on key growth programmes in both the commercial and military markets.’
Global footprint
‘The combination of GKN Aerospace and Fokker will create a world-leading, innovative multi technology aerospace company with a global footprint,’ said Hans Büthker CEO, Fokker Technologies. ‘GKN Aerospace and Fokker together have an impressive multi-technology portfolio for our customers.’
Once the acquisition is completed, Fokker, under the current leadership, will become a new operating unit within GKN Aerospace. Fokker’s headquarters will remain in the Netherlands where it will continue to run its R&D and manufacturing facilities.
This story is reprinted from material from Fokker, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.