NP Aerospace, a Coventry-headquartered armour technology manufacturer and vehicle integrator, has agreed to acquire a US-based specialist provider of advanced defence protection services.
The company has struck the deal for Iten Defense from Edgewater Capital Partners and other minority shareholders.
The purchase aims to strengthen NP Aerospace’s and Iten’s portfolio of survivability and protection technologies, enhancing its ability to support defence and security customers with mission-critical armour products across global markets.
“This is an important strategic step for NP Aerospace as we continue to invest in advanced protection technologies and expand our capabilities for customers worldwide,” said James Kempston, chief executive of NP Aerospace. “Iten Defense brings strong technical expertise, manufacturing capacity, and complementary capabilities, and we look forward to working with the team following completion.
Pete Ostergard, managing partner of Edgewater Capital, said: “In close partnership with Iten’s management team, we’ve transformed the business over the past few years through a series of strategic initiatives and investments in expanded capabilities.
“We are confident that the combination with NP Aerospace will further accelerate Iten’s growth as a leader in advanced protection solutions.”
Iten Defense chief executive Damon Walsh added: “This is great news for Iten and, more importantly, for our customers. As a larger global enterprise with combined engineering and technical know-how, we will be well placed to respond to today’s increasingly complex defence requirements at a pace to best serve our customers’ needs.”
Until closing, NP Aerospace and Iten Defense will continue to operate as independent businesses.
Completion of the transaction remains subject to customary closing conditions, including certain government and regulatory approvals.