HAKI Safety acquires British Company Newbow Aerospace
HAKI Safety has signed an agreement and completed the acquisition of Newbow Aerospace, a privately owned British market-leading manufacturer and supplier of Ground Support Equipment (GSE) used for the safe and efficient maintenance of aircraft.
HAKI Safety has signed an agreement and completed the acquisition of Newbow Aerospace, a privately owned British market-leading manufacturer and supplier of ground support equipment (GSE) used for the safe and efficient maintenance of aircraft. The acquisition strengthens HAKI Safety's offering of safety solutions for aviation workplaces, while complementing the Group's current product portfolio of aircraft maintenance platforms under the Semmco brand.
Newbow Aerospace manufactures and sells specially developed products and solutions for the safe maintenance of aircraft decks. Its customers are located globally and include both civil and military organisations. The company's head office and manufacturing facilities are located in Redditch, Worcestershire, England. The business is showing good growth and sales for the last twelve-month period amounted to approximately SEK 40 million. The company currently has around 20 employees.
"We are delighted to announce yet another acquisition in the aviation market segment. This is an attractive segment that we prioritise and intend to grow within. Newbow Aerospace's products are specially designed so that aviation engineers to safely and efficiently maintain aircraft in scheduled service or undergoing scheduled maintenance, just like the platforms developed by Semmco, which we acquired in 2024. There are several sales and production synergies between these two companies that we look forward to realising" says Sverker Lindberg, President and CEO of HAKI Safety.
“Newbow Aerospace has enjoyed fantastic, stable growth for many years. However, demand is now greater than we can handle. In order to continue developing and growing, we need a new context, and I am very pleased that this will be together with HAKI Safety and the capacity and knowledge they have in Semmco,” says Marc Green, owner of Newbow Aerospace.
Financial information and effects of the transaction
Newbow Aerospace's turnover for the last twelve-month period amounted to approximately SEK 40 million (GBP 3.3 million) and EBITDA to approximately SEK 7 million (GBP 0.6 million). Operating profit amounted to approximately SEK 6 million.
The initial purchase price amounts to GBP 2.3 million on a debt-free basis, taking into account working capital adjustments. In addition, an additional purchase price based on Newbow Aerospace's performance until April 2026 may be added, which is estimated to amount to approximately £1 million. The acquisition will be paid in cash and financed within the framework of existing credit facilities.
The acquisition means that the Group's debt ratio, i.e. net financial debt in relation to adjusted EBITDA, will temporarily exceed the Group's financial target of a ratio of 2.5 times, but is expected to decrease over time in connection with Newbow Aerospace's earnings generation. HAKI Safety does not expect any material integration costs.
For more information, please contact:
Sverker Lindberg, President and CEO
Email: sverker.lindberg@hakisafety.com
Tel: +46 (0)40-30 12 10
Tomas Hilmarsson, CFO
Email: tomas.hilmarsson@hakisafety.com
Tel: +46 (0)40-30 12 10