Investment firm Sullivan Street Partners Limited is nearing a deal for British engineering group Senior plc (LSE:SNR)?s aerostructures unit, which supplies components to Airbus SE and Boeing Co., people with knowledge of the matter said. London-based Sullivan Street could reach a final agreement with Senior in the coming weeks, the people said, asking not to be identified because the information is private. A deal would value Senior?s aerostructures operations at about £200 million ($268 million) including debt, the people said.
Sullivan Street is poised to beat out other suitors including investment firm AURELIUS Equity Opportunities SE & Co. KGaA (HMSE:AR40), the people said. While talks are advanced, an agreement could still be delayed or fall apart, the people said.
Representatives for Senior and Aurelius declined to comment. A spokesperson for Sullivan Street couldn?t be reached for comment. Senior said last week that it had made ?further good progress?
and ?detailed discussions with parties are ongoing.? A sale would end a long search by the company, which has been working with adviser Lazard Inc. to sell the aerostructures business since 2019.
