Former Royal Navy submarine commanders are latest experts to sound alarm over Advent International’s £2.6bn takeover of Ultra Electronics
Former Royal Navy submarine commanders have become the latest experts to sound the alarm over Advent International’s £2.6billion takeover of Ultra Electronics.
FTSE 250-listed Ultra makes highly sensitive kit for the Navy – including critical submarine-hunting sonobuoys.
Senior public figures have warned that Britain could lose access to this technology if US private equity titan Advent takes it over.
Concern: Ultra makes highly sensitive kit for the Navy – including critical submarine-hunting sonobuoys
Ryan Ramsey, who commanded attack submarine HMS Turbulent, said that as a frontline operator he found the deal ‘concerning’.
He told The Sunday Telegraph: ‘The real focus is not on the here and now, it is about the future.’
Business Secretary Kwasi Kwarteng has ordered regulators to assess whether the deal poses a security threat.
Paul Blythe, who commanded submarine HMS Vanguard, said that ‘even with the best will and assurances about safeguards, we don’t know if Ultra could be sold on if the safeguards are watered down’.