The acquisition is said to create one of the largest providers of thermal spray and engineered coating surface technology services in the world.
Stephen Harris, Group chief executive of Bodycote plc, commented: “This acquisition builds upon our ongoing efforts to build our Specialist Technologies portfolio and enhance our exposure to the civil aerospace market, where we see structural growth over the long term, notwithstanding the shorter-term hiatus in the industry. Ellison’s business is one that we have respected for a long time and is a perfect strategic fit for Bodycote’s Specialist Technologies businesses.”
Bodycote continues to execute its strategy to invest in Specialist Technologies and secular growth businesses. Ellison’s business is an excellent strategic fit with Bodycote’s existing Surface Technology business, which itself has seen strong structural growth in recent years. Bodycote’s expanded Surface Technology business can offer additional technologies and added resources to consolidate its leadership in surface coating solutions and specialist processes, including thermal spray coating, liquid coating, thermal processing, and diffusion coating. These operations will be fully integrated into Bodycote’s business model both from an operational and commercial perspective, and will operate going forward under the Bodycote brand.
“The acquisition will also help position Bodycote to reach its next phase of growth,” added Harris. “Ellison has been successful in winning new business in recent years and it will be very complementary to Bodycote’s existing Surface Technology business. We look forward to leveraging our combined workforces to create a new strategic position to successfully enhance our services to support the aerospace market.”
