Longacre Group Announces Acquisition Of AIC
LONDON – 3rd August, 2018 – Longacre Group Announces Acquisition Of AIC.
Longacre Group announces Vacuum Furnace Engineering’s (“VFE”) recent acquisition of Autoclave & Industrial Controls (“AIC”), a leading provider of maintenance services for autoclaves and industrial ovens.
AIC is a leading provider of technical support, repair, maintenance, refurbishment and calibration services for industrial autoclaves and other heat treatment equipment. AIC’s team of engineers has been serving a blue-chip, global customer base in the aerospace and high-end automotive industries for over 25 years.
The transaction is financed by Longacre Group, the private investment firm that backed the management buy-in of VFE in February 2015. Since then, VFE has significantly expanded its contract servicing and repairs business. The acquisition of AIC will further increase the breadth of its service offering. AIC’s engineers will become part of the VFE team whilst continuing to work with existing customers.
The transaction is Longacre Group’s third acquisition and it illustrates the firm’s strategy of enhancing platform investments through bolt-on acquisitions.
Charlie White, Managing Director of VFE, added: “I am delighted that the AIC team is joining VFE. Over the last 24 months, we have been working hard to expand our service and repairs business and provide our customers with the best possible experience. Having the AIC team on board broadens our capabilities to service autoclaves and other industrial ovens as well as provide calibration services. Longacre Group gave us huge support in this significant step forward in our growth strategy by identifying and financing this transaction.”
VFE remains focused on finding complimentary acquisitions which offer services related to heat treatment, vacuum and pump technologies.