Blackstone Inc. and Tinicum Incorporated have completed their £1.275 billion acquisition of Senior plc, taking the UK aerospace and industrial engineering group into private ownership through a court-sanctioned scheme of arrangement.
The transaction became effective on 8 October 2026 through Zeus UK Bidco Limited, a company indirectly controlled by investment funds advised by affiliates of Blackstone and Tinicum. The acquisition valued Senior's entire issued and to-be-issued share capital at approximately £1.275 billion on a fully diluted basis, with shareholders entitled to receive 297.85 pence in cash per scheme share.
The transaction was initially agreed in April 2026 and received shareholder approval in May. Regulatory approvals followed, including clearance from the European Commission in September, before the High Court sanctioned the scheme on 6 October.
The acquisition was financed through a combination of consortium equity and a new credit facility arranged by Barclays. Tinicum already held approximately 2.36% of Senior's issued ordinary share capital before the transaction.
Following completion, Senior announced changes to its board, including the departure of seven non-executive directors and the appointment of Gabriel Yuen and Karl Eber. Cancellation of the company's London Stock Exchange trading admission and FCA listing was expected to take effect on 9 October.
Buyer / Parties: Blackstone Inc. and Tinicum Incorporated, through Zeus UK Bidco Limited
Target: Senior plc
Sector: Aerospace and industrial engineering
Deal type: Private equity-backed public-to-private acquisition
Value: Approximately £1.275 billion; 297.85p per scheme share
Geography: United Kingdom
Identified advisers: 10 financial and legal advisory firms
The acquisition transfers Senior into private ownership under a consortium backed by Blackstone and Tinicum. The transaction arrangements indicated that the buyer did not intend to materially change Senior's headquarters, operating locations, workforce capabilities or fixed assets. The completion also brings changes to the company's board and removes its public-market listing.
Buyer – Blackstone, Tinicum and Zeus UK Bidco: Barclays acted as lead financial adviser, with BMO Capital Markets serving as an additional financial adviser. Linklaters and Goodwin Procter provided legal advice to the consortium and Tinicum. Freshfields advised Blackstone on legal matters, while Simpson Thacher & Bartlett acted as regulatory counsel to Blackstone.
Target – Senior plc: Lazard acted as lead financial adviser, with Jefferies and Deutsche Numis serving as financial advisers and joint corporate brokers. Slaughter and May acted as legal adviser to Senior.
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