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Private equity firm to buy UK defense company in $5 billion deal | Defense News

Private equity firm to buy UK defense company in $5 billion deal | Defense News

The U.S. private equity group Advent International Corp. will acquire U.K. defense firm Cobham plc for £4 billion, or $5 billion, on Thursday.

Advent, which has completed over 345 buyouts in 41 countries, purchased Cobham through its indirect subsidiary AI Convoy Bidco Limited.

Cobham, which creates products for the defense, aerospace, and space industries, is ranked 57 on the Defense News Top 100 with 64 percent of its annual revenue, or $1.59 billion, coming from defense.

The deal is expected to be completed before the end of 2019, according to the press release.

Source: Private equity firm to buy UK defense company in $5 billion deal | Defense News

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