Sullivan Street closer to Deal for Senior's Aerostructures Unit

(Bloomberg) – The investment firm Sullivan Street Partners is closer to an agreement for the British Engineering Group Senior PLC’s Aerostructures Unit, which has components on Airbus’s and Boeing Co. liver, people with knowledge of the matter said. The London Sullivan Street could reach a final agreement with senior in the coming weeks, people said and asked not to be identified because the information was private. A transaction will include the Aerostructures operations of senior at around £ 200m ($ 268m), including debt, people said. Sullivan Street is ready to strike other sugars, including investment firm Aurelius, people said. While discussions are being progressed, an agreement can still be delayed or fall apart, people said. Representatives of Senior and Aurelius declined to comment. A spokesman for Sullivan Street could not be reached for comment. Senior said last week that it made “further good progress” and that “detailed discussions with parties continue.” A sale would end a long search by the company, which along with adviser Lazard Inc. work together to sell the Aerostructures business since 2019. The repulsion would let Rickmansworth, England-based senior, focus on the liquid transport and thermal management companies and sub-systems. According to his website, it works in 12 countries. Last week, the board predicted ‘good growth’ for the group in 2025, aided by the aviation business. The company has a market value of £ 560m. Sullivan Street focuses on the lower middle market and acquires the controlling interests in UK companies, according to the website. The investment firm recently acquired three marine infrastructure companies in the UK. -With help from Sweetha Gopinath. More stories like these are available on Bloomberg.com © 2025 Bloomberg LP first published: 30 Apr 2025, 03:05 am Ist