Australian firm Levett Engineering has reached an agreement to be sold to ASDAM, a defence and manufacturing company owned by Australian private equity group CPE Capital.
CPE Capital announced the acquisition in a press release published on 4 November. It did not disclose the terms of the transaction but said it is subject to regulatory and other approvals.
Paul Levett, founder and owner of Levett Engineering, said, "The acquisition by CPE Capital's Australian defence portfolio company will provide the capacity and capability to better service our existing clients in the Joint Strike Fighter (JSF) programme and create the platform to service new clients in different domains and programmes."
Want to read more? For analysis on this article and access to all our insight content, please enquire about our subscription options at ihsmarkit.com/janes