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Business News

Chamonix courts buyers as it puts Mettis Aerospace on sale for £70m

Mettis Aerospace, a supplier of components – from airframes to landing gear – to Boeing, Rolls-Royce and Airbus, has been put up for sale with a price tag of £70m.

Chamonix Private Equity, its owner, has hired M&A adviser Hawkpoint to arrange a sale of the Worcestershire-based group, and documents were sent to potential bidders last week. One such is Carlyle Group, the US private equity giant, as it looks to expand Nuneaton-based Gardner, the aviation equipment firm it bought in October.

A source close to the process said: "Interest is expected from both trade and private-equity groups. The deadline for first-round bids is early new year."

Mettis' turnover is about £50m a year, and profit is thought to be £10m.

Chamonix is based in central London. Its portfolio includes Prize Food Group, a supermarket supplier with a yearly turnover of £100m.