An American investment firm is to take a majority stake in an aircraft engine support company based in Bedwas.
AerFin Limited, a specialist provider of end of life aircraft and engine asset management services, will be acquired by US-based CarVal Investors.
Bob James, the founder of AerFin, based on the Bedwas House Industrial Estate, will remain as the Managing Director and CEO and will retain 20% of the company.
Mr James said: “The benefits that CarVal bring to the business in terms of access to significant capital and market reach will strategically position the AerFin business for continued growth with a shareholder whose interests are very much aligned with our own.”
Justin Bradburn, Managing Director for CarVal Investors, based in Minneapolis, said: “The acquisition of AerFin is a compelling investment in itself and in addition enables CarVal to invest effectively in a dynamic and growing market in a more strategic way.
“Bob James and the AerFin team will bring tremendous value to our ability to invest in end of life aircraft and engines.”
AerFin, which was established in 2010, moved to its base in Bedwas last year. It relocated from two sites in Cardiff with the move part-financed by the Welsh Government. The new base meant the firm had all of its operations on one site.
AerFin offers a broad scope of specialist engine support services for some of the world’s largest aircraft manufacturers.
It also provides specialist management services, primarily focusing on distressed assets requiring innovative and intensive technical and commercial risk management solutions. Last year it forecast revenues of around £12 million.