Morvern Group on its acquisition of Tarpey Harris Ltd
Tarpey Harris Ltd a leading manufacturer of wax moulded parts, metallic tooling and machined parts supplied to the aerospace and Industrial gas turbine engine markets, has been acquired by Morvern Group, a company established by an investor group to assemble leading aerospace businesses with dynamic management teams. Steen Associates acted as sole financial adviser to Movern Capital, working with management, identifying Morvern Group, and leading the debt and equity raising.
Tarpey Harris with facilities at Worcester and Denby in the United Kingdom supplies a range of components to the aerospace and industrial gas turbine markets including aerospace tooling, wax products and related machined components. The company counts leading aerospace Original Equipment Manufacturers (“OEM’s”) and large tiered engine suppliers as its customer base.
Morvern Group has been established as a company by its shareholders, to acquire leading aerospace and industrial gas turbine companies. Morvern Group is chaired by Philipp Schack who was previously Chief Executive of Tital Group, an aerospace supplier of titanium parts, and will have on its board Klaus Steffens former chief executive of MTU and current board member, together with Neil France, and the management team at Tarpey Harris. Joerg Freimund and Jason Steen will join the Morvern Group board also.
Commenting on the acquisition Philipp Schack said: “We have been looking for an acquisition like Tarpey Harris for some time and are pleased that the team at Tarpey has found a partner in Morvern” Neil France added: “we are excited to be working with the high quality team at Morvern who will allow us at Tarpey to move the business to the next level”.