The total consideration for the acquisition is expected to be approximately £1.1m.
Red Box is a leading UK manufacturer of aviation ground power equipment with global reach and an established presence in the USA market.
The acquisition will provide a strong addition to LPA Connection Systems, the Group’s Saffron Walden-based division, that designs, manufactures and supplies high quality specialist products for the aviation, rail, and infrastructure markets. This acquisition supports their long-term growth strategy whilst also lessening the Group’s dependence on rail projects.
Robert Horvath, Chairman of LPA, said: "The acquisition of Red Box is a demonstration of the opportunities available to the Group to acquire businesses with high quality products and, within a relatively short period, high growth potential. Being part of LPA will provide scalability to boost Red Box’s success. We look forward to welcoming Ian Harding and Red Box to the LPA Group."
