Marshall today announced the completion of the sale of its subsidiary, Slingsby Advanced Composites Ltd., to Mangohojden AB, formerly known as Goldcup 101485 AB, a privately held Swedish company seeking to develop a group of specialist aerospace and defence businesses.

Established in 1931 and acquired by the Marshall Group in 2010, Slingsby Advanced Composites is one of the UK's premier complex composite structures and assembly service providers operating across land, air and sea defence platforms.

"Slingsby Advanced Composites is a leading player within its segment and well positioned to support the UK and European defence industry as it adapts to the new reality with increased investments and reliance on domestic supply.

"Our ambition with Mangohojden is to establish a group of European companies in the defence and aerospace industry. As the industry is entering a transformational phase, we see an opportunity to create a group of niche companies. By combining with other successful companies, access to capital will improve and enable investments needed to meet industry demand in the coming years."

Torbjörn Johansson

Board member, Mangohojden

"We have every confidence that Mangohojden will build on the ongoing success of Slingsby Advanced Composites, growing the capacity of this remarkable business to deliver critical projects in support of the national security of the UK and its NATO allies."

Roger Hardy

Chair, Marshall