Blackstone and industrial investor Tinicum are in advanced talks to take control of UK aerospace parts supplier Senior, according to Financial Times sources. The consortium is positioned to make an offer acceptable to Senior’s board in the coming weeks, though no final decision is made and talks could still shift. Senior, which makes fuel control systems for aerospace, defence and energy, saw its shares surge in late February after revealing multiple offers and hiring investment banks.

The stock currently trades at £2.77, valuing the company at £1.16bn. Advent International and Arcline Investment Management are also bidding, having previously proposed £2.72 per share, which was rejected. Senior’s board extended Advent’s deadline to early next week. If successful, the Blackstone-Tinicum deal would continue the trend of British industrial groups like Cobham and Meggitt being acquired by private equity or industrial buyers.