Stirling Square looks to aerospace

The mid-market firm is backing a programme of European expansion for the aerospace component manufacturer, which is based in Italy.

Stirling Square Capital Partners, a European private equity firm, has backed the buyout of Microtecnica, an aerospace component and sub-system manufacturer, from Hamilton Sundstrand, a subsidiary of United Technologies, for an undisclosed amount.

Established in Northern Italy as a family business, Microtecnica operates three sites in Northern Italy and employs 686 people. In 2007, the Company generated sales of €124 million.

Microtecnica has a portfolio of civilian and military programmes and supplies to a diversified customer base, including Hamilton Sundstrand, Avio, Alenia, Bombardier, Airbus and AugustaWestland.

Stirling Square will support the existing management team led by chief executive Alan Bean in consolidating Microtecnica’s relationships with Italian and European defence contractors and continuing to drive further growth beyond Europe.

Stirling Square intends to invest in further developing Microtecnica’s core technology and in supporting international growth.

The transaction is Stirling Square’s third investment in 2008 following the acquisitions of Sicurglobal, the largest player in the Italian security service market, in May 2008 and Jeckerson, a global premium leisurewear brand, in June 2008.