UK aerospace supplier Cobham will be bought by US firm Advent International for approximately £4 billion.
The firm makes critical components for plane maker’s including Airbus, employing more than 10,000 people.
In a statement, Jamie Pike, Cobham chairman, said it would “provide a credible and complementary partner for Cobham stakeholders”.
David Lockwood, Cobham chief executive, added that the offer “reflects the potential for future growth and improving performance, and is an endorsement of our turnaround strategy”.
The firm announced organic revenue growth of 11% to £1.03 billion and a 12% rise in underlying operating profit to £107 million in the first half of 2019.
