French Acquires Cobham’s Aerospace Business in £850m Deal Amidst the Continuation of the British Defence Group’s Break-Up
Yesterday, the US private equity owners of Cobham, a British defence group, sold its aerospace business as part of the ongoing break-up of the company.
Thales, a French manufacturing firm, acquired Cobham Aerospace Communications in a £850 million deal.
Cobham Aerospace Communications, based in Paris and a part of the Cobham Group since 1989, specializes in antennas and communication systems for aircraft and is projected to generate approximately £154 million in revenue this year.
This acquisition, expected to be finalized next year, adds to the number of Cobham units sold by Advent International, a US private equity giant, since its £4 billion purchase of the group in 2019.
Although the takeover was examined by the government to assess potential security risks, it was granted approval.
Sell-off: French manufacturing firm Thales bought Cobham Aerospace Communications in a £850m deal
This sale marks the seventh business arm of Cobham to be divested since 2019, leading one anonymous analyst to criticize Advent’s actions as “despicable” and “asset-stripping at its worst.”
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