Cobham will be bought out by the US buying group Advent

Cobham, the British supplier of aerospace and defense, was to be bought by the American group Advent International, under a contract that would give him a value of about 4 billion pounds, including debt, announced close to the situation.

The transaction was to be unveiled Thursday morning in London. Cobham would become the last public company to be caught by a private equity group eager for deals as buy-outs roamed the UK in search of bargains.

This would be the first takeover of a British company since the appointment of Boris Johnson as Prime Minister on Wednesday, baduming personal responsibility to ensure the exit of the UK from the EU by the end of October .

A contract with the manufacturer of fueling and communications equipment for combat aircraft comes after the FTSE 250 group has recently found a more solid financial base. The company issued a number of warnings on its earnings between 2015 and 2017, dropping its shares compared to their peak of four years ago.

The exact price per share Advent would pay could not be learned. With nearly £ 4 billion, it would value the group's shares at a premium of around 35% over its market value of £ 2.9 billion and a share price of 123%. That's about 52% less than an all-time high in 2015.

The takeover of a British defense industry supplier could provoke a political scrutiny, following opposition to the hostile takeover of engineering company GKN by the overthrown group Melrose Industries, for £ 8 billion.

The sale of GKN, a manufacturer of aerospace and automotive components, has sparked criticism from politicians and unions that its sale to a turnaround specialist could jeopardize jobs and investment in the UK manufacturing sector.

Cobham employs more than 10,000 people and manufactures critical components in every Airbus transport aircraft manufactured today, including satellite communications equipment and parts to prevent explosions of fuel tanks on the famous A320 aircraft. Cobham generated after-tax profit of £ 120 million on revenue of £ 1.86 billion last year.

He vindicated investors earlier this year by restoring his dividend, following the settlement of a dispute with Boeing.

Cobham did not immediately respond to the request for comment. Advent declined to comment.

For Advent, the deal is the latest in the UK market. In 2018, he bought London-listed electronics maker Laird for £ 1 billion. Two years earlier, Advent had acquired Brammer, the distributor of industrial repair kits based in Cheshire.

Private equity deals are on track for the best year in their history, fueled by nearly $ 2.5 million in cash flow that the buyout funds have raised from investors, as well as cash costs. Historically low borrowing.