Insider Media Limited

MB Aerospace Holdings, which has its supply chain management service based in Derby, has acquired a US-headquartered company in a deal set to boost its turnover to $80m (£51.2m).

The company purchased Gentz Industries, based in Detroit, Michigan, as part of its strategy to focus on key aerospace operations.

It sold non-core subsidiaries MB Faber and MBAe Oil & Gas in 2009 and March this year respectively in a bid to focus solely on its aerospace activities.

MB Aerospace Holdings said the deal would double the size of its current operations, which comprise three UK sites in Derby, Burnley and Motherwell, and grow turnover to more than £50m.

The company, which was subject to a management buyout backed by private equity firm LDC in 2007, focus operations on supply chain management, manufacture and repair of machined and fabricated components.

Key customers of Gentz include Rolls-Royce, Mitsubishi Heavy Industries, Volvo Aerospace and the US Department of Defense.

Gentz Industries’ 250-strong workforce will merge with MB Aerospace Holding's, bringing the total number of employees in the group to more than 400.

Craig Gallagher, chief executive of MB Aerospace Holdings, said: "This multimillion-dollar acquisition is part of our long-term strategy to grow our core aerospace business internationally.

"We see strong synergies between the US and UK operations with two very distinct customer bases providing the opportunity to leverage the capabilities and strengths of both businesses into new markets, whilst securing employment and supporting the rapid growth of the business on both sides of the Atlantic."