Hensoldt’s acquisition of UK-based surveillance and security radar systems group Kelvin Hughes will spur the company’s accelerated growth in the security market, according to Celia Pelaz, Hensoldt’s head of strategic business development.
ECI Partners reached agreement with Hensoldt in June this year for the sale of Kelvin Hughes. The acquisition is set to be completed by the end of this month.
‘‘Kelvin Hughes will help us strengthen our naval and coastal portfolio, and also our security solutions business line,’’ said Pelaz, adding that the acquisition ‘‘allows us to accelerate our pursuit of the security market’’.
Kelvin Hughes chief executive Russell Gould said: ‘‘We are aiming to contribute to many areas of growth. Kelvin Hughes has a long legacy, and is known for its innovative products and solutions. About 95 per cent of our business in an average year is export. That complements Hensoldt’s strategy.
‘‘Furthermore, we have a products and solutions portfolio that fits in neatly with Hensoldt’s own portfolio.’’
Hensoldt has appointed Gould to run the company’s newly formed security solutions business line. While Kelvin Hughes will be fully integrated into the Hensoldt group, the Kelvin Hughes brand is expected to live on, given its strong recognition in the marketplace.
Pelaz said Hensoldt wants to double its annual turnover from €1 billion to €2 billion over the next five years. ‘‘We see about half of that growth coming out of acquisitions,’’ she said.