News

Logistics firm Wincanton has acquired Product Support Holdings (PSH), the provider of supply chain and packaging solutions to defence and aerospace markets, for £27m.

PSH specialises in the management of time-critical spare parts and components. Its services include specialised storage, protective packaging design and manufacture, security screening and distribution.

PSH operates from 25 support centres, mostly in the UK, and employs 422 people.

Its customers include AgustaWestland, BAE Systems and Honeywell.

Graeme McFaull, Wincanton chief executive, said: "PSH's market-leading expertise, in new industries for Wincanton, will provide a further exciting growth opportunity."

PSH reported turnover of £19.4m for the year ended 31 March 2008.

Wincanton is currently carrying out due diligence on logistics firm TDG.