SNR Senior Plc

RNS Number:6225M
Senior PLC
28 January 2008


Senior plc completes acquisition of Capo Industries, Inc. ('Capo')


Senior is pleased to announce that all of the conditions of the purchase
agreement between Capo, the Capo shareholders and Senior Operations Inc.,
including the conditions relating to the US Hart Scott Rodino Anti-trust
Improvements Act 1976, have been satisfied and the acquisition has completed. 
The agreement to purchase Capo was originally announced on 20 December 2007.

The acquisition is expected to be immediately earnings enhancing.

The acquisition of Capo is in line with Senior's strategic objective to expand
its aerospace presence and capability and the Board of Senior believe that the
acquisition of Capo offers many benefits and opportunities including:

*   The acquisition of a well established, profitable business with strong
    growth prospects;
*   An immediate enhancement to Group earnings per share;
*   An increased presence in the buoyant commercial wide-bodied and business
    jet markets;
*   An increased presence at a number of market leading customers;
*   A stand alone business with an exceptional management team;
*   Additional Group sales and profits with minimal increase in central and
    divisional costs.

Commenting on the acquisition, Graham Menzies, Senior's Group Chief Executive, 
said:

"The acquisition of Capo, a very well invested and growing business, further
enhances the Group's aerospace presence and capabilities and I am delighted to
welcome Dave and all the Capo employees to our Group. The addition of Capo means
that the Group is even better placed for the future."


For further information please contact:

Senior plc

Graham Menzies Group Chief Executive     01923 714702
Mark Rollins   Group Finance Director    01923 714738

Finsbury Group

Adrian Howard                            020 7251 3801
                      
This announcement, together with other information on Senior plc may be found at: 
www.seniorplc.com


Note to Editors:

Senior is an international manufacturing group with operations in eleven
countries. Senior designs, manufactures and markets high technology components
and systems for the principal original equipment producers in the worldwide
civil aerospace, defence, diesel engine, exhaust system and energy markets.

Capo, which is located in Chino near Los Angeles in California, USA was
purchased by its current owners, David Feltch (the President and CEO) and his
wife, in 1989. It is a leading manufacturer of highly engineered, complex super-
alloy components primarily for the aero-engine market. The Company provides
flight-critical components for propulsion and auxiliary power unit (APU) aero-
engines for growing established and new programmes such as the Boeing 737, 777
and 787, the Airbus A320 and A380, the military Joint Strike Fighter aircraft
and an array of business jets such as General Dynamics' Gulfstream, Bombardier's
Challenger and Dassault's Falcon.

Capo focuses on complex, high value-added components including intermediate
cases, engine yoke assemblies, diffusers, turbine nozzles, low pressure turbine
cases, combustor cases, bearing housings and turbine shafts. These parts are
typically made of premium metals such as titanium, inconel and other
super-alloys. The Company's largest customers include Honeywell and Hamilton
Sundstrand.

The Company has a strong management team, led by Dave Feltch, all of whom are
staying with the business following its acquisition by Senior.

For the year to 31 December 2007, Capo is forecasting sales of US$ 35.5m 
(�18.1m (1)) and pro-forma(2) profit before interest and tax of US$ 8.9m 
(�4.5m(1)). The net cash consideration, to be funded by Group debt facilities,
is $85m (�43.4m (1)).

Notes

(1) The exchange rate used for the above � sterling equivalents is $1.96 : �1.

(2) Proforma profit before interest and tax is the reported profit before 
    interest and tax of the Company after making adjustments for the exceptional 
    costs incurred by the shareholders over and above that normally associated 
    with the costs of such management positions.






                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
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