Poole-based defence systems manufacturer Aish Technologies Ltd has been acquired by AGI Holdings LLP. The investment affiliate of J.F. Lehman & Company has purchased the entire share capital, in a move to strengthen its position in the global defence market.
The acquisition is expected to open up new opportunities for Aish particularly within the naval sector. AGI Holdings is active in over 50 countries worldwide and has complimentary operating subsidiaries including Aeronautical & General Instruments also based in Poole, Hoffman Engineering in the US and Aircraft Appliance and Equipment based in Canada.
Lloyd Bates, managing director of Aish Technologies, commented on the deal: This is a very exciting time for Aish and we are delighted to become part of such a prestigious and forward-thinking Group. For example, AGI currently have contracts with the Navies in around 50 countries worldwide, so the opportunities this opens up for Aish are significant.”
AGI Holdings provides situational awareness and LED lighting systems for naval vessels, military and commercial aircraft and military ground vehicles. Some of AGI’s core product lines include naval visual landing systems, wind and speed sensor systems for naval and aviation applications, naval filtration equipment and military aerospace sub-system repair and overhaul solutions.
Aish’s capability in ruggedised display systems and cathodic protection systems is regarded as a strong strategic fit for AGI and enhances its portfolio of mission critical situational awareness, filtration and other related products and services.
Geof Eeles, CEO of AGI Holdings, welcomed Aish to the AGI Group, commenting: “We are excited to expand the breadth of our current offering to our global naval customer base, with the acquisition of Aish. Their 100+ year legacy and reputation for innovation, quality and customer service were all factors in our interest in the company, and we are looking forward to helping Aish develop and prosper in the future.”
Aish has grown significantly within the last few years, and now employs over 220 people at its headquarters in Poole. The company and management structure will remain unaltered following the acquisition, with the exception of Ed Bates, the past chairman of Aish, who has now retired.