Dublin-based aerospace company TEAM Accessories has been bought by Moog for an undisclosed sum.
TEAM provides overhaul, testing and repair services for jet engines. Components from all over the world are flown in to the company's specialist engineering site in Dublin for maintenance and repair.
Its current customers include, Aero Norway, Aer Lingus, AJ Walter, and Lufthansa.
The company also provides services to the industrial gas turbine sector with clients including Alba Power and Engie.
Established in 1995, TEAM was acquired by Pat McEvoy and Tom Gibbons in an management buyout in 2017. In 2019, growth capital investor BGF bought a significant minority stake in the company for €5m.
The company currently employs 40 people.
Moog is a worldwide designer, manufacturer, and integrator of precision control components and systems. Its systems control commercial aircraft, satellites and space vehicles, launch vehicles, automated industrial machinery, marine and medical equipment.
Mark Brooks, Moog Commercial Aftermarket Vice President, said today's deal is a key strategic step in the expansion of its total support service, which provided an integrated component support solution to the airlines.
Pat McEvoy and Tom Gibbons of TEAM said the company has pursued a focused growth strategy over the past number of years and have made great progress in developing the business.
"The opportunity now to join forces with one of the world's leading businesses in this sector is a validation of the hard work that everyone in the company has committed to the business," they said.
"This deal promises enormous opportunities for everyone in TEAM and we are both proud and excited to be taking this next step," they added.
