Engineering firm Senior Plc on Friday said it was selling its aerostructures business to Sullivan Street Partners, a UK-based private equity investor, for a total enterprise value of up to £200m.
The proceeds will be used to reduce net debt and fund a £40m share buyback programme, Senior said in a statement.
The company, which makes parts for the aerospace and defence sector, will receive £150m before costs up front and a further £50m payable in the first half of 2026 subject to performance targets.
Reporting by Frank Prenesti for Sharecast.com