Israel-based
Rafael Advanced Defense Systems Ltd has completed the acquisition of
Pearson Engineering Ltd (PER). The acquisition was executed under a stock purchase agreement (SPA), transferring 100% of the ownership. The acquisition includes PER’s subsidiary company
Responsive Engineering Ltd.
Rafael is a world-renowned defence contractor, specialising in cutting-edge, innovative defence systems, such as the TROPHY active protection system, vehicle armour solutions and counter IED technologies.
The company is Israel’s third largest defence company, with 8,000-plus staff and over 30 subsidiaries worldwide, serving the defence, security and aerospace markets. Rafael is an international organisation, with a strong presence in many major defence markets; this includes the USA, India, South Korea, most European NATO member countries, including the UK, as well as throughout Asia, Scandinavia and South America.
Major General Yoav Har Even, Rafael’s president and CEO said: “This acquisition is part of the company's continued strategic investments, with the purpose of transferring cutting-edge, ‘state of the art’ technologies, products and systems into the UK, in support of national security and prosperity.
“Until recently, most of Rafael’s operations in the UK were in partnership with prime contractors, with the majority of components manufactured in Israel. Pearson and Responsive Engineering’s activity is supported by an outstanding legacy of excellence in innovation.
“By acquiring this company, we will be able to enhance and expand Pearson’s manufacturing capabilities thus strengthening our supply chain to better support our customers, especially the UK MoD and British Armed Forces. This will lead to a significant increase in the number of jobs in Newcastle and will build strong links with academic institutions throughout the UK and specifically in North East England.”
Combat engineering systemsPearson’s managing director Craig Priday said: “Pearson Engineering is immensely proud of its life-saving combat engineering systems, which are used by land forces worldwide. This acquisition will not only allow us to enhance our existing product portfolio but will enable the development of innovative, class-leading products and capabilities.
“Rafael’s ambition for Pearson and Responsive brings valuable growth and stability, for our employees, our trusted supply partners in the region and the wider community in the North East. It will undoubtedly create more jobs and generate exciting career opportunities within both companies”
Dr Ran Gozali, EVP, general manager land and naval division for Rafael, said: “Both Rafael and Pearson have an outstanding legacy in force protection capabilities. The reactive armour, fitted to most UK armoured vehicles in Iraq, saved the lives of many British soldiers. The UK MoD Challenger 3 programme is another point of synergy.
“Pearson and Responsive are manufacturing the tank’s turret structures and, supported by Rafael, Pearson will be able to locally manufacture and integrate the TROPHY active protection system, providing the highest level of protection to the crew. This is a great example of the company’s commitment to deliver additional cutting-edge technologies and capabilities to Pearson Engineering, to support current and future UK MoD needs.”