Ultra was formed in 1993 by a management buy-out of seven Dowty Group plc companies from TI Group plc.[1]
Dowty had been acquired by TI Group in 1992 for £500 million.[2] TI Group had then begun disposing of "non-core" businesses. Julian Blogh, a manager at Dowty, resigned and secured financial backing for the £39 million buy-out.[3]
Operations
The company operates its portfolio as an umbrella of specialist businesses designing, manufacturing and supporting electronic and electromechanical systems, sub-systems and products for defence, security and aerospace applications worldwide. It employs over 3000 people, and has a market capitalisation approaching of GBP£850m (2007).
Ultra Electronics is based over 21 sites, with approximately half in the UK and half in the USA. It also has offices in China, Singapore, Canada, New Zealand, and the recently established (2007) Ultra Electronics Pty Ltd subsidiary based in AdelaideAustralia.
^ Campbell, Katharine (1997-09-23). "'Pilot' with the right stuff: How three companies won acclaim in the Venturer of the Year awards", Financial Times. Retrieved on 2007-08-28.
