US private equity firm Arcline Investment Management has made a preliminary all-cash offer for UK aerospace components manufacturer Senior, according to a report by Reuters.
Senior, which supplies parts to aircraft manufacturers including Boeing and Airbus, said in February it had received five takeover proposals. Two bidders have previously been identified as Advent International and a consortium comprising Tinicum and Blackstone.
The company and the bidders have not disclosed the value of the offers. Senior had a market capitalisation of about £1.26bn as of Wednesday’s close.
News of Arcline’s interest was first reported by Bloomberg a day after the Tinicum–Blackstone consortium publicly confirmed it had submitted a proposal to acquire the business.
