3rd Mar 2026 10:47
(Alliance News) - Senior PLC on Tuesday confirmed it has received an all-cash offer for the entire company from a US investor consortium.
The Hertfordshire-based engineering and manufacturing company issued the statement in response to "media speculation", a day after publishing annual results, and following news of a separate offer from Advent International Ltd, which was disclosed on Friday.
Senior shares fell 0.3% to 297.98 pence on Tuesday morning in London, but are up 69% over the past year.
The latest advance is from a consortium comprising Tinicum Inc, alongside funds and vehicles managed by New York-based private equity firm Blackstone Inc. Tinicum is a Tiburon, California-based investor, which "manages a diversified group of manufacturing, distribution, industrial technology and specialty infrastructure companies", according to its website.
Financial details of the potential deal were not disclosed.
"Discussions with the consortium and other potential offerors remain ongoing. There can be no certainty that an offer will be made, nor as to the terms of any offer. A further announcement will be made as and when appropriate," Senior said on Tuesday.
The consortium has until March 31 to declare whether it intends to make a firm offer for Senior, while rival bidder Advent International Ltd has until March 27.
The latter on Friday confirmed that it was mulling an offer for Senior, in its capacity as advisor to Boston, Massachusetts-based private equity investor Advent International LP. Earlier on Friday, Senior said it was postponing a GBP40 million share buyback programme to facilitate possible takeover negotiations.
Any potential deal would follow what Senior Chief Executive David Squires called a "pivotal year" in 2025, during which saw Senior sold its Aerostructures business to Sullivan Street Partners Ltd.
On Monday, Senior reported that its revenue had risen 4.4% in 2025 to GBP738.2 million from GBP707.4 million. Pretax profit, however, was down 8.8% on-year to GBP34.1 million from GBP37.4 million.
Still, adjusted pretax profit from continuing operations increased 21% to GBP51.2 million from GBP42.2 million, while adjusted operating profit climbed 20% to GBP63.6 million, lifting the adjusted operating margin to 8.6% from 7.5%.
The firm shared a confident view of the year ahead, noting that the first two months of 2026 had tracked in line with guidance, forecasting further growth in Aerospace as a result of increase defence demand.
By Holly Munks, Alliance News reporter
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