By 2011, Volvo was seeking to dispose of its aero engine division to focus on its production of trucks and construction equipment. In March 2011, British engineering group GKN was reportedly being regarded as the frontrunner to acquire the company as several other bidders, including German engine specialist MTU Aero Engines, as well as private equity firms The Carlyle Group and Nordic Capital, decided to withdraw from their own acquisition ambitions. On 6 July 2012, Volvo Aero was acquired by the GKN in a SEK 6.9 billion deal. The sale was viewed as one step in a wider trend in the aerospace industry towards consolidation.