Defence specialist Ultra is back on the takeover trail, snapping up the assets of American aerospace cockpit instrumentation business Horizon Aerospace in a £2.4 million deal.
Ultra, which has a major facility at Rugeley in Staffordshire, said the acquisition was subject to approval by the US Regulatory Authorities and was set to close in 30 days.
Horizon shares a common heritage with Ultra's existing Flightline Systems business, having previously operated under a single management until the acquisition of Flightline by Ultra in 1997.
The company employs about 50 people and, upon completion of the acquisition, its operation will be moved and incorporated into the nearby Flightline facility in Victor New York, USA.
Ultra said this would generate operational efficiencies and savings for the business.
Horizon supplies and supports a broad range of cockpit indicators for military and civil aircraft.
The range includes mechanical, electro-mechanical, digital and analogue-digital instruments, together with the designs from Lewis Engineering, acquired by Horizon in 2000.
