Categories: Merger & AllianceNews

Cyient signs a definitive agreement to acquire B&F Design

Cyient signs agreement to acquire 100% equity ownership in B&F Design Inc.

India: Cyient has signed a definitive agreement to acquire 100% equity ownership in B&F Design Inc. Based in New Britain, Connecticut, USA, and founded by Raymond F. Forgione in 1965 as a family business, B&F Design initially offered design services to local manufacturing companies and later expanded the business to include the manufacturing of tools, and has built a reputation for its high quality design and tooling capability.

B&F Design employs a team of around 47 people, with a revenue between $8 million to $9 million, with low double-digit EBITDA margins. They also bring-in a strong team of technical and domain experts in Aerospace Tooling along with a common anchor customer, led by Darius Szczepankowski, who will join as General Manager to run the delivery operations.

With new programs going into manufacturing the demand for precision tooling is significantly increasing. This market is forecasted to increase at a faster rate than that of design. This is Cyient’s sixth acquisition in the last three years as part of its ‘Design-Build-Maintain’ strategy. Cyient holds a strong cash position of $155 million and will continue to look for acquisitions that will enable the company to realize its strategy and the goal of industry-leading growth.

Anand Parameswaran, Senior Vice President for Aerospace and Defense, said, “Cyient holds a leadership position in providing engineering services to the Aerospace and Defense market. This acquisition is a step towards enhancing our Build and Maintain offerings. Through this acquisition, we are better positioned to provide increased value to our customers by undertaking more comprehensive work. We are confident that this acquisition will aid us in achieving our vision.”

News Desk

This is the account of the Newsdesk team at Geospatial Media. Reach us at newsdesk [@] geospatialmedia.net or call us on +91-120-4612500

Share
Published by
News Desk
Tags: Cyient

Recent Posts

  • News

Orixcom Partners with Megaport to Deliver Direct Cloud Connectivity in Dubai

Australia: Megaport Limited , a global leading Network as a Service (NaaS) provider and Orixcom, the fast-growing operator that provides next-generation connectivity,…

14 mins ago
  • News

Schiphol to organize a BIM for Facility Management program at GEO|Design+BIM 2018

Netherlands: GEO| Design+BIM, a platform that highlights the use of geospatial data analytics and Building Information Modelling (BIM) in asset spatial…

32 mins ago
  • News

Topcon announces new field computer accessories for performance in all weather conditions

US: Topcon Positioning Group announces new accessories for the FC-5000 field computer — a landscape-style keyboard along with a stylus. The…

1 hour ago
  • Blogs

Facebook again comes under radar: This time being sued for Location Tracking

Since everything happens somewhere, an enormous amount of location data generated every day can be capitalized for faster services. In…

15 hours ago
  • News

Hexagon strengthens its Construction Solutions Portfolio with Bricsys Acquisition

US: Hexagon AB, a global leader in digital solutions, today announced the acquisition of Bricsys, a fast-growing developer of CAD…

17 hours ago
  • News

Bentley new open applications advance Comprehensive Modeling Environment for multidiscipline collaboration

US: Bentley Systems has launched OpenSite Designer, a built-for-purpose application for the design and construction of civil site projects. It…

19 hours ago