SILVERFLEET CAPITAL TO ACQUIRE SIGMA COMPONENTS

Silverfleet Capital, the European private equity firm, has agreed to acquire a majority stake in the aerospace division of Avingtrans (“Sigma Components” or “Sigma”), a UK precision engineering components manufacturer for the commercial aerospace sector.  Sigma is being bought for an enterprise value of £65.0 million and its existing management, led by its founding CEO, Mark Johnson will acquire a minority interest.  Completion of the transaction is subject to Avingtrans Plc shareholder approval and regulatory approvals from the German and Austrian competition authorities. Sigma operates from four sites in the UK and two sites in China employing approximately 750 people