Global media and events company, Terrapinn has announced the acquisition of Aerospace Tech Week, a business media company specialising in Avionics, Connectivity, MRO IT and other affiliated core technologies for the global aerospace industry. The business comprises events – Aerospace Tech Week Americas, Aerospace Tech Week Europe -–and a publication. The parties have not disclosed the value of the deal.
Terrapinn group CEO Greg Hitchen tells EW: “As our journey continues, Terrapinn will increasingly look to acquisitions for growth. And for us it is not just a buy at x5 and sell at x10 game. We are in the business of acquiring properties that we can really add value to; that really add value to all of Terrapinn. Aerospace Tech Week is a great example of this. And it is a superb fit with our Aviation portfolio.”
Sean Willis, managing director, Terrapinn UK, says: “Aerospace Tech Week is a fantastic complement to our existing aviation portfolio and we are really excited to welcome the products and the team. ATW Europe, held in Munich, is the industry standard and both shows have enormous potential in this rapidly changing tech landscape.”
Adrian Broadbent, CEO, Aerospace Tech Week, adds: “We are really glad that Aerospace Tech Week has found such a good home. Terrapinn has the resources, network and interest to take the business to the next level.”
Both parties said they looked forward to serving all stakeholders in promoting avionics and affiliated technology to the global aerospace industry and thanked all staff and advisers for making the deal happen.
Mayfield Merger Strategies acted as adviser to the Aerospace Tech Week shareholders.
For further information: www.terrapinn.com
