HISTORY in brief..
Avingtrans plc disposed of its former operating businesses to Goldstart Limited on 1st December 2000 thereby reverting to a non-trading business. This business retained a sum in excess of £4 million on deposit and set about seeking a suitable acquisition opportunity that afforded shareholders a combination of good long-term growth and an acceptable level of risk.
Subsequently, the Jenaer Group of Jenaer Gewindetechnik GmbH, Jena-Tec Inc., Jena Rotary Technology Ltd. and C&H Precision Finishers Ltd. were acquired by Avingtrans plc from Ferraris Group plc on 28th June 2002.

Jena Rotary Technology Ltd. was established by Ferraris Group plc in 1992 as a UK distribution company for the precision instruments manufactured by the former Carl Zeiss owned Jenaer Gewindetechnik GmbH in Jena, Germany.
Subsequently, Ferraris acquired the German business in 1994. The Jena Companies continued to expand their customer base and Jena-Tec Inc. was established in 1996 as a distribution facility in the North American market.

CH Precision Finishers Ltd. was founded as a private partnership supplying precision metal finishing to the local aerospace industry in 1974. It was acquired by Ferraris Group plc in 1994 and has continued to develop its range of finishing services since then.

Jena Rotary Technology the UK sales and service arm of the Jenear Group was appointed as the official sales and service partner for GMN Spindles.
From January 2003 Europe’s leading Spindle manufacturer, GMN, was
represented by Jena Rotary Technology to OEM’s and users throughout the UK.

Boneham & Turner Spindles, a division of Boneham & Turner Ltd is acquired by Jena Rotary Technology in September 2003.
B&T spindle product design and manufacture re-locates to the Jena Rotary Technology centre in Nottinghamshire, with key Boneham & Turner spindle technicians joining the existing Jena rotary products team, forming the largest precision machine spindle manufacturing operation in the UK.

Avingtrans plc acquires Crown UK Ltd for a consideration of £1.56 million. Based in Portishead, Bristol, Crown UK design and manufacture housings and stands for roadside speed cameras, including the brand CROWN POLE together with gantry and trackside poles for railway signalling. This acquisition further strengthens the Avingtrans plc group of companies through presence within a rapidly developing and opportunistic market sector.

Avingtrans plc confirms the acquisition of Stainless Metalcraft (Chatteris) Limited Metalcraft from Ferraris Group plc, in October 2004, for a total consideration of £8.1 million. The acquisition of Metalcraft represents the continuation of the strategy of the Board of Avingtrans of growth through the acquisition of companies that are involved in areas related to precision engineering.
Metalcraft is a producer of fabricated and machined products to major suppliers of diagnostic imagery and the European Scientific Community. Its products are made to a high technical specification and its customers include all of the major suppliers to the Magnetic Resonance Imaging ("MRI") market, thereby raising barriers to entry from potential competitors.

Avingtrans announces in June 2006, the acquisition of a 75% interest in Sigma Precision Components Ltd ('Sigma') through the purchase of 300,000 new Sigma shares at a price of £1 per share. Sigma provides a range of services to aerospace and high technology markets and, with the injection of new funds into the business, is poised to accelerate the scale of its operations in China. Avingtrans will lend its expertise in the precision engineering sector as well as supporting Sigma through ongoing investment in capital equipment.
Sigma was founded in 2004 by two widely experienced aerospace professionals who saw an opportunity to create a business from the globalization into emerging markets of the $7 billion aerospace precision components market. Throughout their first year of operation Sigma provided consultancy services from its offices in the UK and China and now, with the benefit of customer commitment and investment support from Avingtrans, will establish a 30,000 sq. ft. precision component manufacturing facility in Chengdu, China.

22 SEPYEMBER 2006, Avingtrans announces the un-conditional acquisition of B&D Patterns Limited (B&D) for up to £10.5m, the Board of Avingtrans plc is pleased to confirm the completion of this acquisition and set out its plans for the grouping together of its aerospace businesses to form a formidable aerospace components manufacturing and servicing division within the Avingtrans group.
B&D, based in the midlands, was founded over 45 years ago and has grown to become a market leader in rigid and flexible pipe assemblies and components for prestigious customers such as Rolls Royce, Messier Dowty and Dunlop Aerospace for use in their jet engines.

21 FEBRUART 2012 Avingtrans announces the formation of Sigma Composites Ltd following the agreement to acquire Delta Composites Ltd., Alpha Composites Ltd. and Orion Machining Ltd, (collectively known as “Composites Engineering Group” or “CEG”) based in Buckingham, UK.
The acquisition further strengthens the offering of Avingtrans’ Aerospace Division, as the acquired business had a strong foothold in F1/Motorsport and, with AS9100-approved facilities, also serves Aerospace, other hi-technology markets such as satellite communications and ‘prestige automotive’.

5 NOVEMBER 2012, Avingtrans announces sale of Jena Tec to Kuroda Precision Industries Ltd. (“Kuroda”) of Japan for cash consideration of £13.45 million.
The division was constructed by Avingtrans from a series of small acquisitions over several years, which originally cost approximately £4 million in total. Jena Tec employed 178 people across its operations based in Germany, the UK, USA and China.

26 NOVEMBER 2012, Avingtrans acquires Aerotech Tubes Ltd, to expand Avingtrans’ Aerospace Division, for a cash consideration of £2 million. Based in Derby, Aerotech manufactures pipe assemblies and manifolds for leading tier-1 customers in the aero-engine industry.

3 DECEMBER 2012, Avingtrans completes the acquisition of the trade and certain business assets and liabilities relating to the manufacture of aerospace components from PFW UK Limited’s Farnborough site, for a cash consideration of £1.85 million. This reinforces Avingtrans’ position with certain existing customers as well as introducing new customers to the Group and broadens process and design capabilities to expand the aerospace market offering.

4 JULY 2013, Avingtrans acquires the entire issued share capital of Exterran (UK) Ltd. ("Exterran UK"), the UK operations of US-based Exterran for a cash consideration of £1. The principal activity of the acquired business, which is based in Aldridge, is the design, fabrication and installation of products for the global oil and gas market, including equipment solutions for petroleum production, gas processing, produced water treatment and aftermarket parts and services. The business will be known as Maloney Metalcraft Ltd, to reinvigorate a previously well-known brand name in this market sector. The acquisition complements the existing capabilities within the Avingtrans energy offering and will provide cross selling opportunities.

11 AUGUST 2014, Avingtrans acquired the trade and certain business assets and liabilities relating to the manufacture of aerospace components from Tricorn Group plc's subsidiary, RMDG Aerospace for a cash consideration of £1.1 million, excluding costs. The Acquisition is was completed on 11 August 2014. The principal activity of RMDG, located in Swadlincote, Derbyshire, is the manufacture of a range of rigid pipe assemblies and precision components for the aerospace sector. RMDG generated revenues of £3.2 million and an adjusted operating loss of £0.14 million during the year ended 31 March 2014.

29 JANUARY 2016, Sigma Components, Avingtrans PLC’s aerospace division, has agreed to acquire Rolls-Royce’s internal pipe manufacturing businesses in Nuneaton, UK and Xi’an, China for £3.5m. Sigma will use the combined capabilities of its UK and Chinese facilities to offer competitive commercial terms to Rolls-Royce, as the XWB programme grows rapidly. This acquisition will grow sales significantly, as Sigma continues to strengthen its position in the core markets of pipes, ducts and fabrications. Rolls-Royce’s internal pipe manufacturing business employs 132 people at its Nuneaton facility, with an additional 110 personnel working at its Xi’an site. Operations will continue at both sites following the completion of the deal. At completion, in March 2016, the acquired assets were £3.5m and, in the previous financial year, to December 2015, the business traded at an approximately break-even level.

4 MAY 2016, Avingtrans announces that it has entered into an agreement to sell its Aerospace Division (Sigma Components) to Anthony Bidco Limited a company controlled by funds managed by Silverfleet Capital Partners LLP for an enterprise value of £65 million which, after adjustment for debt and working capital and associated transaction costs, will result in the Company receiving proceeds of approximately £52 million (before escrow arrangements).

27 May 2016, Avingtrans announces that it has completed the sale of the Aerospace Division to Anthony Bidco Limited, a company controlled by funds managed by Silverfleet Capital Partners LLP.