Cyient Ltd has signed an agreement to buy the Connecticut (US)-based B&F Design Inc. Cyient’s stepdown subsidiary Cyient Defense Services Inc has signed the deal to acquire complete equity ownership in the US firm.

The 52-year-old US firm has expertise in design and manufacturing of precision engine assembly equipment, repair tooling, machining of fixtures and gauges, and engine factory modernisation services.

B&F Design has about 50 employees, with a revenue of over $8 million, with low double-digit EBITDA margins.

This is Cyient’s sixth acquisition in the last three years as part of its ‘Design-Build-Maintain’ strategy.

“We have a cash position of $155 million and will continue to look for acquisitions that will enable the company to realise its strategy and the goal of industry-leading growth,” a company executive said.