Senior plc, the Hertfordshire-based maker of engineered components for aerospace, defence and industrial markets, agreed on 7 April to a recommended cash takeover by Zeus UK Bidco, a vehicle controlled by funds advised by Tinicum and Blackstone, at a total value of 300p a share.
Why Tinicum and Blackstone (Zeus UK Bidco) is buying Senior plc
The consortium said its record of investing in engineered aerospace components, including the recent TriMas Aerospace acquisition, was directly relevant to Senior. It intends to place Senior under common ownership with Tinicum's AeroFlow Technologies and argued that long-term private ownership without a fixed exit timetable would allow more investment in operations, R&D and selective acquisitions.
Deal terms and financing
Shareholders receive 297.85p in cash and may keep a 2.15p final dividend for 2025. The cash price is a 36.6% premium to the six-month VWAP to 26 February 2026, the day before the offer period started, but only 2.8% above the 2 April close. The deal values Senior at about £1,275m on a fully diluted basis and implies an enterprise value of about £1,399m, or 15.2 times 2025 adjusted EBITDA. Irrevocable undertakings, including from largest shareholder Alantra, covered about 17.9% of the shares.
Regulatory approvals and timing
Shareholders approved the scheme on 26 May 2026 with 99.8% of scheme shares voted at the court meeting in favour. Senior said in September that all regulatory conditions had been met; the court sanctioned the scheme on 6 October and it became effective on 8 October 2026, with the shares delisted the following day.
Market context
Senior, which reported 2025 revenue of about £738m, supplies aerospace customers including Boeing and Airbus. Advent International made a £1.14bn proposal and Arcline also approached the company before the Blackstone-Tinicum consortium emerged as preferred bidder.
