The company’s plans to relocate last year ‘fell through’ as it was ‘no longer affordable’ for them
A landmark Cambridge business has been sold more than a year after its plans to relocate “fell through”. Marshalls Aerospace, based at Cambridge Airport, had announced plans to relocate to Cranfield University’s base in Bedford.
However, the company announced last year that these plans “fell through” as it was “no longer affordable”. Marshalls has now confirmed the company has been sold to the Aurelius Group.
A Marshalls Aerospace spokesperson said: “Marshalls has been going through a wider, deliberate transition as a group, with a longstanding plan that Marshall Aerospace would relocate from the Cambridge Airport site.
“We’ve been exploring options to secure the best possible long-term future for the Aerospace business, with a focus on ensuring a stable and sustainable future for its people and operations.
“The group has now entered into an agreement to sell Marshall Aerospace, in its entirety, to Aurelius Group. Aurelius is well positioned to support the aerospace business through its next stage of development.
“The acquisition is now subject to UK government review under the terms of the National Security and Investment Act, which is currently underway. Final Marshall Group shareholder approval and Austrian antitrust approval are also necessary.”
Marshalls expects the transaction to be completed by late September.
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