Assystem Acquire Magellan Technical Services - May 2004
As part of a collaboration agreement between Assystem UK Ltd and Magellan Aerospace (UK) Ltd, we are pleased to announce that the resource & recruitment division of Magellan - Magellan Technical Services (MTS) has been acquired by Assystem Ltd.
MTS, based in Worthing, has established itself as one of the prime providers of skilled engineers to the automotive and aerospace industries over the last ten years and will now be integrated into Assystem's well established Resource and Recruitment organisation reporting into the Bristol office.
The acquisition of MTS with its 250 engineers and in particular its reputation within the Automotive Industry, provides a significant strategic diversification for Assystem, already well known within the Aerospace, Defence, Power generation, Rail, Marine, and Process Industries. MTS brings a strong client portfolio and a number of Prime Supplier Agreements in the Automotive Industry to supplement those that Assystem has secured in the Aerospace Industry over the last few years.
Assystem' strategy of supporting OEM's and 1st tier equipment suppliers through the provision of Managed Engineering Services has also been extended with a Collaboration Agreement between Assystem and Magellan UK. This agreement adds Magellan to Assystem' list of strategic customers who are proactively addressing the changing demands within the European Aerospace Industry for an enhanced design and manufacturing capability.
Assystem and Magellan will also seek projects to undertake jointly at their prospective facilities; pooling capabilities and bringing enhanced levels of efficiency to their respective customer throughout the aerospace industry.
Assystem, established in 1997 through a Management Buyout from Ricardo Group, is one of Europe's leading independent Engineering Consultancies providing Technical Support and Engineering Outsourcing Solutions across a broad range of Industries in the UK and Europe. This important acquisition will see Assystem employing over 1250 staff operating from 13 offices in the UK and Europe with an annualised turnover of some £75 million.
For further information contact Mike Sheehan, Director, Assystem UK Ltd