SII Acquires Rücker Aerospace

SII Acquires Rücker Aerospace

The SII Group has bolstered its activities in the aerospace sector, primarily in Germany, with the acquisition of the Hamburg-based Rücker Aerospace GmbH engineering consulting firm.

The acquired company includes Rücker France, a French subsidiary with offices in Toulouse, as well as the Silver Aerospace B.V. Dutch subsidiary, based in Haarlem.

Rücker Aerospace specializes in aerospace engineering. It provides services to some twenty international clients.

The acquisition will result in an expansion of SII’s business in the aerospace sector, which will double in size in Germany, and give the Group a new international operating base in the Netherlands.

Rücker Aerospace posted revenue of close to €17m in 2013 and has 200 employees. Its operating margin will have to improve to conform to the SII Group’s standards.

The purchase of all of the shares of Rücker Aerospace GmbH was paid for in cash and the acquired business will be consolidated into the SII financial statements from April 1, 2014.

The acquisition is part of SII’s expansion strategy and will reinforce its aerospace activities and international reach.