A consortium comprising US-based alternative asset manager Blackstone and private investment entity Tinicum has agreed to acquire Senior in a £1.39bn ($1.88bn) cash transaction at 300p per share.
The UK-based manufacturer supplies ducts and valves used to regulate fuel consumption across aerospace, defence and energy industries.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Its customers include Airbus, Boeing and Lockheed Martin.
The transaction will be carried out through Zeus UK Bidco Limited, a newly established entity controlled by funds advised by the two investors.
Shareholders expect to receive 297.85p in cash, along with a planned FY25 final dividend of 2.15p per share.
The cash offer values Senior’s issued and to-be-issued share capital at about £1.27bn on a fully diluted basis.
The implied enterprise value stands at roughly £1.39bn.
The acquisition remains subject to shareholder approval and customary conditions.
Senior CEO David Squires said: “Senior is delivering on its strategy and is firmly on track to meet the medium-term financial targets announced in March 2025. Our focus remains on serving our customers with great performance, delivering highly engineered products that fully meet their needs.”
Advised by Lazard, Senior’s board has concluded that the terms are fair and reasonable and intends to unanimously recommend that shareholders support the proposal.
Tinicum-affiliated funds already hold a 2.36% stake in Senior, to be acquired outside the scheme.
Including these and other commitments, the consortium has control or backing for approximately 20.2% of shares.
The investors said the transaction would combine Senior with AeroFlow Technologies, recently acquired by Tinicum, under shared ownership.
The aim is to build a broader aerospace platform with improved earnings resilience and customer reach.
They also highlighted the potential to deepen customer relationships, access specialised manufacturing expertise and support long-term investment under private ownership.
The consortium noted: “Senior is a highly regarded engineering company with compelling technical capabilities and deep, longstanding customer relationships. As long-term investors in both aerospace and industrial sectors, the consortium has conviction in Senior and its growth potential.”
