ASDAM announced the acquisitions of TAE Aerospace and RUAG Australia, which join Marand and Levett as part of the ASDAM Group. ASDAM has established an industry leading Australian sovereign industrial capability in engineering, advanced manufacturing and sustainment across defence, aerospace and industrial markets. Terms of the deal were not disclosed.
Steve Sargent, chairman of ASDAM, said, “Marand, Levett, TAE and RUAG Australia are all outstanding businesses in their own right. Their combination within ASDAM creates a leading Australian engineering and sustainment partner across aerospace and defence programs. ASDAM’s role is to provide continued access to capital and resources to build and grow Australian sovereign industrial capability.”
As part of the transaction, the current CEO of TAE Andrew Sanderson assumes the role of CEO of ASDAM and joins the board of ASDAM. Rohan Stocker continues in his roles as the CEO of Marand and Levett and as an Executive Director on the ASDAM Board.
Andrew Sanderson, CEO of ASDAM said, “TAE and RUAG Australia’s focus on sustainment of aerospace and defence platforms will be highly complementary to the design, engineering and advanced manufacturing capabilities of Marand and Levett in the ASDAM Group. The expanded resources of the group will enable each of the businesses to invest and grow their capabilities to support our global defence, aerospace and industrial customers.”
ASDAM operates from 20 locations across Australia and the United States, and has approximately 1,000 employees. ASDAM is majority owned by funds managed by CPE Capital.