Better Capital’s 2012 pool has increased its investment in CAV Aerospace. They say CAV, working with its key stakeholders, has been able to take steps to release a significant amount of previously tied-up working capital and to make important operational changes which should lead to improved performance.
In order to achieve the above, the General Partner has agreed that the 2012 Fund provides a further injection of £11m into the business in the form of a secured shareholder instrument. The investment will be used to repay the group’s existing lender in full, thus removing substantially all of the group’s external debt and to continue to fund its working capital, capital expenditure and on-going improvement initiatives.
This brings the 2012 Fund’s total investment in CAV to £59m.
CAV describes itself as a leading supplier of precision machined parts to the aerospace industry. They have 600 employees and 33,500 sqm of manufacturing and distribution facilities (in both the UK and Poland) and design, manufacture, assemble and deliver components to leading aircraft manufacturers such as Airbus, Boeing and Gulfstream.
BC12 : Better Capital 2012 increases CAV investment