- 17 December 2007 -

3i increases its stake in AES Engineering

The financial group 3i has made a further investment in AES Engineering Ltd (AES), the holding company of the seal manufacturer AESSEAL Group.

3i first invested in AES in 1996 and this secondary investment increases its equity stake to 40% and values the business at £100 million. AES was founded in 1979 by Chris Rea who will retain a majority interest and control of the business.

Management was advised by Deloitte Corporate Finance and by Kevin Cunningham of Irwin Mitchell. Martin Jenkins, corporate finance partner at Deloitte said: "AES has developed from a start-up 25 years ago to a business operating from more than 60 sites in 30 countries and is now the fourth largest mechanical seals company in the world with exports to 83 countries."

www.aesseal.co.uk

This update is brought to you by Pump Industry Analyst, the business information newsletter. To receive a sample copy of Pump Industry Analyst, click here.

To receive news and features like this direct to your inbox sign-up for the World Pumps enewsletter.

Simply register your details to receive a fortnightly roundup of the latest news from the pump and sealing industries direct to your inbox.

If you would like to advertise in the World Pumps enewsletter please contact our sales team.

If you have some news for the pump industry or would like to comment on any of the articles on this site, contact our editorial team.

You can also access the full list of contacts here.