Babcock Sells Aerial Emergency Business
UK aerospace and defense company Babcock International Group, as part of its portfolio alignment program,…
UK aerospace and defense company Babcock International Group, as part of its portfolio alignment program, has sold its aerial emergency business for US$145 million.
The businesses were sold for a cash consideration of about US$145 million (€136.2 million) before completion adjustments and transaction costs.
In February 2023, Babcock sold its civil training business to Inspirit Capital as the company tried to reduce debt and focus on its major markets.
“We’ve done what we said we’d do at the start of our turnaround: we’ve strengthened the balance sheet and reduced complexity. Around two-thirds of the Group is now focused on defense, and we are well positioned for future growth opportunities in our core markets,” said David Lockwood, CEO, Babcock.
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