Fareham aircraft company Percival Aviation sold to American firm as "excellent transaction" funds expansion

Aircraft supply company Percival Aviation in Cartwright Drive has been taken over by Jet Parts Engineering. Following the sale to the Seattle-based aerospace business, it’s hoped Percival can expand its operations abroad.

Leading law firm Blake Morgan was the main advisor for the deal on behalf of the owner, CEO Neil Percival. Corporate Partner Manoj Styche-Patel said: “This is an excellent transaction for all concerned – Percival Aviation, Jet Parts Engineering and Neil.

“It is an exciting time for Percival Aviation to continue their expansion and I have no doubt that under Jet Part’s stewardship, the Company will go from strength to strength. And congratulations to Neil – it has been a real pleasure to work with him and his team over many years. We achieved completion within a tight timetable thanks to the cooperation and collaboration of all the advisers on both sides.”

Percival Aviation’s US subsidiary company, Percival Aviation Inc, was also sold as part of the agreement. The company sells plane interior components such as furnishings, cabin equipment, lavatory products, seating components and other items.

Set up in the 1970s by Mr Percival’s father, Percival Aviation steadily grew to become one of the UK’s leading suppliers of aircraft interiors and associated components. They produce the products themselves, as well as designing them and providing maintenance.

The company is trying to push through its major growth plan to expand its oversea presence. Its sale was completed in five weeks, with Blake Morgan, Quercus Corporate Finance, Altitude Accounting and US lawyers Snell & Wilmer, overseeing the transaction. Mr Styche-Patel, assisted by fellow corporate lawyers Katie Newham and Toby Price, has been the Percival Aviation’s relationship partner for over 20 years.

CEO Mr Percival said: “Thank you to Manoj and the team at Blake Morgan and all the advisers for helping to get this deal done so quickly and over different jurisdictions. It is a credit to their know-how and experience. They understand our business and ensured I knew what was happening throughout the process.”