9 April 2018
Following the developments at the end of 2014 with Enact’s significant investment in Stirling Dynamics, we are pleased to announce the purchase of Stirling by Assystem Technologies. This exciting news will provide significant strength to the already strong brands of Assystem and Stirling and launch both organisations in their next stages of growth and development on a world-class level. While Stirling will come under the full ownership of Assystem Technologies it will continue to operate under the Stirling Dynamics brand focussing on the delivery and support of Stirling core capabilities worldwide.
The Enact fund (a part of Endless LLP) acquired a majority stake in Stirling from founder Bob Stirling in 2014 and were supported by the introduction of Mark Cook as Executive Chairman. Since then Stirling has grown by more than 15% per annum in addition to returning the business to high levels of profitability. This has been recognised in a number of awards being received over the last 12 months, as well as the inclusion within the Sunday Times Fast Track 100 for SME Exporters.
Olivier Aldrin, CEO of Assystem Technologies, said:
“I am delighted to welcome the Stirling team within Assystem Technologies. Our aerospace and marine customers have now access to an enhanced specialist engineering expertise, combined with new scale and truly global capabilities.”
Mike Sheehan, Assystem Technologies Managing Director for the UK, said:
“Stirling has an excellent reputation for its innovation in the domain of active control systems and associated analysis that will greatly complement our portfolio of aerospace and marine engineering offers. Having Stirling’s world-class experts joining our global teams is great news for our customers, and we look forward to getting them on board.
Mark Cook, Executive Chairman of Stirling Dynamics, said:
“Stirling has a truly world-class engineering capability and the investment from Enact was the catalyst to unlock its business potential and deliver impressive growth in revenues and profits. The Enact team have provided the optimum balance of support and challenge throughout the investment period, but clearly, a lot of kudos also goes to the staff and management of Stirling. They have adapted to significant change, adopted new strategies and applied themselves relentlessly to create a great UK company. Under the leadership of Assystem Technologies, I am confident the growth will continue and expand into new market sectors. ”
Ed Ransome, Investment Director at Endless LLP, said:
“It has been a pleasure to support the remarkable story of Stirling over the last three years. The management team and employees should be incredibly proud of what they have achieved and we believe that with the support of Assystem Technologies as their new owners they will continue to prosper. Yet another South West business that delivers globally-recognised, best-in-class engineering expertise.”