Aerospace
Steen Associates acted as financial adviser to Sullivan Street on the acquisition of Senior Plc’s Aerostructures division
Background
The acquisition comes at a pivotal time for the global aerospace industry, which has record commercial aircraft backlogs due to the sector’s long-term growth. Senior’s Aerostructures business is a premier player in delivering precision-machined airframe, aero engine components and complex assemblies for commercial aerospace, defence and space applications. It has a stellar track record of quality customer service and operational delivery across the US, UK and Asia.
With Sullivan Street’s investment, the business will continue to expand its capabilities and scale, with a focus on manufacturing, supply chain reliability and growth alongside its original equipment manufacturing and tier 1 partners. The long-term vision is to build a market-leading supplier who is a valuable and dependable partner to its customers.
About the transaction
Sullivan Street Partners has reached a binding agreement to acquire the Aerostructures business of Senior plc in its largest deal to date for a total enterprise value of up to £200m.
Steen Associates is advising Sullivan Street on the acquisition of Senior Aerostructures Division for a consideration of up to US$275m.
Key aspects of the transaction:
The transaction was originally announced in July 2025.
It represents Sullivan Street’s largest deal to date, with a total enterprise value of up to £200 million (approximately US$275 million).
The transaction signed and closed on 31 December 2025, following which the business was rebranded as Zenix Aerospace.
About the client
Sullivan Street Partners is a UK-based private equity investor specialising in mid-market control buyouts.
Leveraging its extensive carve-out and operational expertise, Sullivan Street worked closely with Senior to complete all regulatory approvals and enable a smooth separation of the Aerostructures business. Plans to rebrand the business were implemented following completion of the transaction.
Date:
December 2025
Service:
Buy side
Size:
Up to $275m
Deal locations:
