The purchase from Stellex Capital Management closed on 2 November after receiving regulatory clearances, following an agreement signed on 3 July. Financial terms were not disclosed.
David Brown Defence will operate as RENK UK Huddersfield, with the site serving as the group’s centre of excellence for submarine propulsion systems. Its low-noise, low-vibration submarine technology is new to RENK’s portfolio, which also gains surface-vessel propulsion capabilities and military vehicle powerpacks and transmissions.
“With the closing of this acquisition, we are bringing together outstanding technological and operational capabilities – and taking on responsibility for critical defense programs and the customers behind them,” said Dr Alexander Sagel, CEO of RENK Group. “We take that responsibility seriously: they can rely on RENK to continue to deliver.”
The acquisition will support delivery of the Global Combat Ship, or Type 26, and gives RENK access to long-term naval programmes in the UK, Canada, Norway and Australia. The group identified Type 26 construction and subsequent aftermarket work as significant business opportunities.
In land systems, the transaction broadens RENK’s product offering on Challenger 2, Challenger 3 and Boxer. RENK said the businesses would also benefit from shared manufacturing capacity, procurement, engineering and market access.
“Our 530-person team brings more than a century of engineering expertise to the table,” said Mike Helme, CEO of David Brown Defence. “As part of RENK Group, we can build on that heritage with an international network and a shared commitment to quality and reliability for our customers.”
Sagel said the group was committed to Huddersfield and the British defence industry. The acquisition also strengthens RENK’s presence across the Five Eyes countries.
