HAKI Safety acquires supplier of aircraft ground support equipment
HAKI Safety has signed an agreement and finalised the acquisition of Newbow Aerospace, a privately owned UK-based market-leading manufacturer and supplier of Ground Support Equipment (GSE) used for safe and efficient aircraft maintenance. The acquisition gives HAKI Safety a stronger product offering in aviation work zone safety while complementing the Group’s current product portfolio of aircraft maintenance access platforms under the Semmco brand.
Newbow Aerospace manufactures and sells customised products and solutions intended for safe maintenance of aircraft tyres. Customers are found worldwide and include both civilian and military customers. The company’s headquarters and manufacturing are located in Redditch, Worcestershire, England. The business has shown good growth, and turnover over the last twelve-month period amounted to approximately SEK 40 M. The company currently has about 20 employees.
Sverker Lindberg, President and CEO of HAKI Safety, says: “It is very pleasing to be able to communicate yet another acquisition in the aviation market segment. It is an attractive segment that we prioritise and intend to grow in. Newbow Aerospace’s products are specifically designed to enable flight engineers to safely and efficiently maintain aircraft during scheduled service or maintenance, just as the access platforms Semmco is developing, which we acquired in 2024. There are several sales and production synergies between these two companies that we look forward to realising.”
Marc Green, owner of Newbow Aerospace, says: “Newbow Aerospace has had a fantastic and stable development for many years. However, the demand is now greater than we can handle. To continue to develop and grow, we need a new context, and I am very pleased that it will be together with HAKI Safety and the capacity and knowledge they have in Semmco.”
Financial information and effects of the transaction
Newbow Aerospace’s turnover over the last twelve months amounted to approximately SEK 40 M (GBP 3.3 M) and EBITDA to approximately SEK 7 M (GBP 0.6 M). The operating profit amounted to approximately SEK 6 M.
The initial purchase price amounts to GBP 2.3 M on a debt-free basis, including working capital adjustments. An additional purchase price may be due based on Newbow Aerospace’s performance until April 2026. It is estimated to amount to approximately GBP 1 M. The acquisition is paid in cash and financed within the framework of existing credit facilities.
The acquisition implies that the Group's debt ratio, measured as financial net debt/adjusted EBITDA, will temporarily exceed the Group's financial target of a ratio of 2.5 times but is assessed to decrease over time in connection with Newbow Aerospace’s profit generation. HAKI Safety does not expect any material integration costs.