A DARWEN aerospace manufacturer which employs 450 people has been sold to an American company for £43million.

Brookhouse Holdings, based at India Mill, has been bought by Kaman Aerospace Group, part of Kaman Corporation based in Connecticut, USA.

Earlier this year it was reported that the Manchester office of Aberdeen Asset Managers' Private Equity was in talks to sell Brookhouse Holdings after some losses in the annual tunover.

The private equity firm had invested in the aerospace manufacturer, which was founded in 1951, in April 2004.

The company employs 465 people, operating in 240,000 sq ft of production floor space Over the last 10 years, Brookhouse has become the leading UK independent supplier to the aerospace industry.

Richard Thorley, Brookhouse chief executive, said: "We are excited to be joining the Kaman organisation.

"Kaman is an excellent home for Brookhouse and we look forward to being part of a dynamic forward-looking aerospace company where their scale and added credibility will support us as we execute our growth strategy.

"We envisage significant strategic benefits from this combination and our employees and seasoned management team are prepared to capitalise on those benefits."

Kaman Aerospace Group, including Kaman Aerospace Corporation and Kamatics Corporation, produces aircraft structures and components for commercial and military aircraft. The purchase price of £43million or $85.1 million was funded by borrowings through Kaman's revolving credit agreement.

Neal J Keating, chairman, president and chief executive officer of Kaman Corp, said: "This is an excellent acquisition for Kaman that furthers many of our strategic goals for the aerostructures segment.

"Brookhouse has developed a reputation as a leading edge technology composites company, has solid growth prospects, and brings with it strong relationships with prime manufacturers in both the military and commercial markets.

"The acquisition accelerates the Aerostructures segment's overall growth, further diversifies our platform positions in both the military and commercial markets, and significantly enhances our position in the higher-growth markets for composite structures."

Brookhouse's senior management team have agreed to continue their employment with Kaman.