Ontic, a leading OEM and provider of MRO services for established aircraft in the commercial, military, rotorcraft and adjacent markets (including marine and rail), has signed an asset purchase agreement for various product lines from Ultra Precision Control Systems in the UK.
The acquisition covers five distinct product categories comprising: Legacy Electronics, Aircraft Lighting, Commodity Harnessing, Engine Terminal Blocks and Rail Barrier Systems. The products will transition from two Ultra PCS sites into Ontic’s existing UK footprint.
Gareth Hall, chief executive officer of Ontic, said “Ontic is pleased to sign this agreement with Ultra supporting their future strategic plan, enabling Ultra to focus upon their core growth technologies. The acquisition by Ontic, the fourth deal with Ultra, will ensure that the products, the highly skilled jobs, and the supply chain remain in the UK protecting the end customers and ensuring an efficient transition."
Simon Pryce, chief executive of Ultra, commented: "These disposals are in line with our Ultra strategy to focus on our core capabilities and markets where Ultra has specific expertise and knowledge. As such, these technologies will be better developed under Ontic’s new ownership. We’d like to thank the Ultra employees involved in these product lines for their contribution to Ultra and wish them and the business every success in the future with Ontic.”
