Auctus Industries has partnered with Inflexion to acquire aerospace components supplier Shimtech Industries from Bridgepoint Development Capital (BDC) for $220m.

UK-headquartered Shimtech is one of the major producers of aerospace shims and laminated shim material, and a supplier of lightweight composite structures and assemblies to commercial and military aerospace segments.

The company operates four manufacturing facilities in the US and three in Europe.

"The strong support and commercial approach of the Bridgepoint team has been a key element of our success."

Shimtech was formed with integration and rebranding of BDC’s four separate businesses, which had been acquired from Hampson Industries in 2011.

Auctus is intended to unite niche Tier 2 and Tier 3 aerospace component suppliers to create a diversified group.

The transaction is expected to allow Shimtech to accelerate its expansion, take advantage of global growth and drive value from its recent acquisitions.

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Shimtech CEO Howard Kimberley said: "The strong support and commercial approach of the Bridgepoint team has been a key element of our success as we have grown and developed the business into a full service, international aero structures supplier.

"We now look to the future and the next chapter of our development with Auctus with great confidence and firm foundations for the continuing growth of the Shimtech Group."

Shimtech’s board will include John Hartz and Catherine Richards from Inflexion as non-executive directors, and Valerio Massimo di Roccasecca and Edward Spencer-Churchill from Auctus.

Pinsent Masons and Jones Day provided legal advisory services, while KPMG managed financial due diligence for Auctus on the transaction.

Lloyds Bank Commercial Banking provided working capital facilities to support Inflexion’s investment in Shimtech.