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.'

Related content

TP wins fuel-cell contract from passenger train group

Defense contractor TP said it had signed a contract with a train leasing company to supply hydrogen fuel-cell systems for passenger trains.

The initial project...

Tue, 16/02/2021 - 07:25

TP says earnings to fall as pandemic hurts margins

Defence contractor TP said it expected to post a fall in annual operating profit after the pandemic put pressure on margins.

Adjusted operating profit for...

Tue, 26/01/2021 - 09:02

TP mulls sale of maritime engineering business after receiving approaches

Defence contractor TP said it was considering a sale of its maritime engineering business after it received expressions of interest from potential buyers.

TP said...

Wed, 13/01/2021 - 07:53

TP losses deepen as Covid-19 disruptions hurt margins

Defence contractor TP posted a deeper first-half loss despite its sales rising by a third, as the Covid-19 pandemic disrupted operations and hurt margins.


Tue, 20/10/2020 - 07:38

TP wins contract from Mountain Horse Solutions for US vehicle navigation

Defence contractor TP said it had signed a contract worth around £0.2 million with Mountain Horse Solutions to develop an autonomous navigation platform for land-based...

Tue, 06/10/2020 - 07:43