8/29/2014 1:33:00 AM
NEWS BRIEFS
SPS Technologies Buys Coatings Business
SPS Technologies acquired UK-based KG Coating for $3.8 million, the Insider reports.
Founded in 1994, KG Coating applies aluminum and polymer coatings for aerospace manufacturers. Web: kgcoating.co.uk
SPS reportedly beat out four other bidders from the U.S., the Netherlands, India and France.
Guy Haynes of KBS Corporate, which assisted on the deal, said KG Coatings owner had purchased the business in 2013 “and decided to investigate the option of selling after noticing improving market conditions within the aerospace industry,” according to the Insider.
SPS, a Precision Castparts Corp. company, designs and manufacturers aerospace fasteners. Web: spstech.com
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