Senior Plc · LSE:SNR
Senior — Merger or Acquisition (June 2022)
5 slides from Senior's merger presentation, June 2022
Slide 1: Acquisition of Spencer Aerospace
ACQUISITION OF SPENCER AEROSPACE Significant advancement in Senior’s strategic focus on fluid conveyance technology
Slide 2: Fluid Conveyance Acquisition – Spencer Aerospace
FLUID CONVEYANCE ACQUISITION – SPENCER AEROSPACE Spencer Aerospace designs and manufacturers high-pressure hydraulic fluid fittings for use in commercial and military aerospace applications. • Owner managed business founded in 2013, located in Valencia, CA, USA with approx. 50 employees • Use of the
Slide 3: Aerospace Fittings
AEROSPACE FITTINGS Materials titanium & stainless-steel Flared Beam Seal MIL-F-85421 & MIL-F-85720 Applications hydraulic, fuel, Flareless pneumatic tube AS18280 / AS1576 connections Operation 1,500-5,000+ psi Orbital Weld Port Lok / Rosan Axial Swage AS5176, BPS-F-125 AS4459 AS5958 Flareless Joints
Slide 4: Fluid Conveyance Acquisition – Spencer Aerospace
FLUID CONVEYANCE ACQUISITION – SPENCER AEROSPACE • Cash consideration for substantially all assets of business (debt free): o $30m payable on completion; $30m payable 1 year post completion o Earnout of up to further $40m dependent on growth performance by the end of 2026; final milestone dependent
Slide 5: Senior's Fluid Fittings & Couplings Portfolio
SENIOR’S FLUID FITTINGS & COUPLINGS PORTFOLIO Hydraulic fittings acquisition is very complementary to existing portfolio • Senior’s existing Fittings & Couplings portfolio supports a wide array of fluid conveyance and thermal management applications including: o Machined end fittings for tubing/duct