Cyient Limited, a global provider of engineering, manufacturing, geospatial, network and operations management services to global industry leaders, through its step down subsidiary Cyient Defense Services Inc. signed a definitive agreement to acquire 100% equity ownership in B&F Design Inc, the company said.
Based in New Britain, Connecticut, USA, and founded by Raymond F. Forgione in 1965 as a family business, B&F Design initially offered design services to local manufacturing companies and later expanded the business to include the manufacturing of tools, and has built a reputation for its high quality design and tooling capability. Today, its area of expertise includes design and manufacturing of precision engine assembly equipment, repair tooling, machining of fixtures and gauges, and engine factory modernization services.
B&F Design employs a team of around 47 people, with a revenue between USD 8 million to USD 9 million, with low double-digit EBITDA margins. They also bring-in a strong team of technical and domain experts in Aerospace Tooling along with a common anchor customer, led by Darius Szczepankowski, who will join as General Manager to run the delivery operations.
Cyient provides engineering, manufacturing, geospatial, network and operations management services to global industry leaders. Cyient leverages the power of digital technology and advanced analytics capabilities, along with domain knowledge and technical expertise, to solve complex business problems.