M&A Deal Summary

Zhejiang Tiancheng Controls Acquires ACRO Aircraft Seating

On September 27, 2017, Zhejiang Tiancheng Controls acquired aerospace company ACRO Aircraft Seating from BGF for 55M GBP

Acquisition Highlights
  • This is Zhejiang Tiancheng Controls’ 1st transaction in the Aerospace sector.
  • This is Zhejiang Tiancheng Controls’ largest (disclosed) transaction.
  • This is Zhejiang Tiancheng Controls’ 1st transaction in the United Kingdom.

M&A Deal Summary
Date 2017-09-27
Target ACRO Aircraft Seating
Sector Aerospace
Buyer(s) Zhejiang Tiancheng Controls
Sellers(s) BGF
Deal Type Add-on Acquisition
Deal Value 55M GBP

Target

ACRO Aircraft Seating

Northamptonshire, United Kingdom
website
Acro Aircraft Seating designs and manufactures economy airline seats for the low-cost carrier market. Its range includes both fixed and reclining seats, as well as premium economy seats. ACRO Aircraft Seating Ltd. was founded in 2007 and is based in Northamptonshire, England.

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Buyer(S) 1

Buyer

Zhejiang Tiancheng Controls

Tiantai, China

website

Category Company
Founded 1992
Sector Automotive
Employees2,308
Revenue 1.4B CNY (2020)
DESCRIPTION

Zhejiang Tiancheng Controls is an entity that specializes in the research and development, production, sales, and service of automobile seats. Zhejiang Tiancheng Controls was founded in 1992 and is based in Tiantai, China.

DEAL STATS #
Overall 1 of 1
Sector (Aerospace) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (United Kingdom) 1 of 1
Year (2017) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

BGF

Investor Investor Investor Investor Investor

website

Category Growth Capital Firm
Founded 2011
PE ASSETS 2.5B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

Business Growth Fund (BGF) is a private investment firm focused on early and growth-stage investing across the UK. The Firm also invests in publicly traded companies. BGF's growth team looks to invest £1 to £15 million in small to mid-sized companies looking for additional capital to pursue growth. BGF was established in 2011 and is headquartered in London.

DEAL STATS #
Overall 11 of 91
Sector (Aerospace) 1 of 2
Type (Add-on Acquisition) 6 of 52
Country (United Kingdom) 11 of 86
Year (2017) 4 of 5
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-27 Bullitt Group

Reading, United Kingdom

Bullitt Group is a designer, manufacturer and distributor of mobile phones, audio products, other connected devices and related peripherals to more than 60 countries across the globe. Bullitt Group was formed in 2009 and is based in Reading, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-03 Roc Technologies

Thatcham, United Kingdom

Roc Technologies is an IT Services company providing business and technology transformation services to multinational companies and public sector organizations. Roc Technologies was founded in 2013 and is based in Thatcham, United Kingdom.

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