British investment firms MTI Managers Ltd. and VCF Partners have acquired stakes in Advanced Composites Group, which has operations in Heanor, England, and Tulsa, Okla.
The investors bought the company from two local government entities, the Derbyshire County Council and the Derbyshire Enterprise Board, on March 31. Terms were not disclosed.
The Derbyshire units obtained ownership in the late 1980s. ACG Chairman Roger Sloman, then also managing director, retained 19.4 percent, which he continues to hold. MTI of Watford, England, holds a larger ownership stake than VCF of London.
Both plants primarily serve aerospace customers. ACG's United Kingdom operations employ more than 200 and design and manufacture composite components, preimpregnated materials and tooling.
The Oklahoma subsidiary employs about 40 and focuses on hot-melt impregnation of prepreg fabrics and unidirectional tapes.