A family-run aircraft ground support equipment firm based in South Wales has been sold to a leading American company for over £10m.
Aircraft Maintenance Support Services Limited (AMSS) has been sold to American company JBT Corporation for approximately £10m.
The family-owned, Bridgend-based business was founded 40 years ago by Duncan Barber, and manufactures and maintains ground support equipment.
The sale is expected to add US$20m of additional revenue to JBT Corporation, a company which is listed on the New York Stock Exchange.
JBT Corporation is a leading global technology solutions provider that also sells equipment and services to US and international air transportation customers. It employs approximately 5,100 people worldwide and operates in more than 25 countries.
AMSS is based at the Village Farm Industrial Estate, Pyle, and employs 125 staff.
Emma Borrington, a partner at Berry Smith Solicitors, advised AMSS on the sale.
She said: “I and the rest of the team at Berry Smith are delighted to have worked with Duncan, his son Scott, and the Barber family.
“It was important to build a strong relationship and understanding of what they wanted so that we could advise and support them throughout the entire process.
“Working so closely with the AMSS team and their other advisors ensured what can be a very stressful and demanding process ran smoothly to completion.
“It was a pleasure to be so involved in such a significant deal in our region and it will now be exciting to see how AMSS can utilise these new-found opportunities with JBT to drive its future growth.”
Duncan Barber, the founder of AMSS, said: “The Berry Smith legal Team led by Emma Borrington worked conscientiously across different time zones with the JBT team to efficiently complete dealings in a timely manner. Their careful consideration and attention to detail earned the respect of all concerned.”
He added: “This is an extremely exciting chapter in the history of the company as the sale enables us to utilise the scale and resource of JBT Corporation, while opening new markets to AMSS’s products.
“I am delighted that AMSS has now become part of the JBT Group, an organisation which I have respected for many years. I have no doubt that this will strengthen the future opportunities for AMSS in Wales.”
Scott Barber will continue as MD of the firm.