Belcan, LLC, on Monday said it has acquired United Kingdom-based Sitec, which provides engineering services and technical recruitment services to the aerospace, defense, industrial and government services markets.
Terms of the deal, which closed on Feb. 1, were not disclosed.
Ohio-based Belcan provides engineering services to aerospace and industrial customers, and information technology services to the government. The deal strengthens its capabilities in aerostructures and wing engineering, and broadens its reach in European defense and technical recruiting markets.
“The acquisition of Sitec represents significant progress for Belcan’s global strategy, strengthening our international reach and bringing additional engineering capability and experience,” Lance Kwasniewski, Belcan’s CEO, said in a statement. “Site, in combination with our existing U.K. and European business, provides extended breadth and technical depth of resources to serve our growing global customer base.”
Sitec has a wide range of customers, including BAE Systems, Airbus Group, QinetiQ, AstraZeneca [AZN], Exxon Mobil [XOM], Siemens, Leonardo, Rolls-Royce and more. In addition to the aerospace and defense industries, Sitec operates in the nuclear, petro-chemical, building services and automotive markets.
Belcan is a portfolio company of the private equity firm AE Industrial Partners. AEI’s financial adviser on the deal was PricewaterhouseCoopers LLP and Sitec was advised by Lincoln International.