According to Jorg Huber, President and CEO of TenCate Advanced Composites USA, “The acquisition of YLA and CCS strengthens TenCate’s growing market position within the aerospace market and further establishes TenCate as a world leader in advanced composite materials. We see strong synergies between TenCate and YLA and CCS, based on our joint product, market (qualifications) and technological capabilities and feel this acquisition will positively benefit TenCate’s vision for excellence in composite materials”.
YLA is involved in the development and manufacture of lightweight high performance advanced thermoset composites together with the design and fabrication of component parts using advanced composite materials. The business is based in Benicia, Solano County, California, USA, has a turnover of approximately US $ 24million and employs 65 people. The acquisition price is US $ 32 million.
The sale is conditional upon US Government approval. Millington Advisory Partners acted as exclusive financial advisor to Perstorp in relation to the transaction.