TP acquires Osprey Consulting for up to £3.5m


Defence contractor TP said it had acquired air-space management group Osprey Consulting Services for up to £3.5m.

Osprey was a privately-owned consultancy focused on safety and mission critical air-space management and regulation in the defence, space and the emerging urban air mobility markets.

An initial sum of £2.25m had been paid on acquisition, with an additional £1.25m payable at the end of year one, subject to completion of certain transition activities by the vendors.

'This transaction extends our presence and capabilities in the military and civil aerospace sectors, providing the enlarged group with additional growth opportunities in the UK and internationally,' chief executive Phil Cartmell said.

'Safety management of airspace will continue to be of paramount importance despite the reduction in flight volumes brought about by Covid-19, and Osprey make a key contribution in this field.'

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