An aviation engineering firm has been named the sixth-fastest growing business in the UK – just months after being named the fastest growing Welsh company.
AerFin Ltd, based on Bedwas House Industrial Estate, in Bedwas, was named on the Sunday Times Fast Track 100 list after it grew its sales by 158% over the last three years.
The company was founded in 2010 by 52-year-old aviation industry veteran Bob James – who is now the firm’s Chief Executive.
Mr James said: “The growth that AerFin has achieved over the last three years is down to the exceptionally talented, dynamic and experienced workforce
“We are committed to providing innovative solutions to the aviation community for years to come.”
The prestigious award follows its top listing on the Fast Growth 50 list – a league of the fastest growing Welsh firms.
The company specialises in providing airlines with used aircraft parts and engines.
The business operates over two locations and is headquartered in a 105,000 sq ft former General Electric Aero Engine Services facility in Bedwas, where it provides engine leasing, engine disassembly, engine-part sales and technical services.
In Crawley, West Sussex, which is near Gatwick Airport, AerFin provides sales of used airframe components and other ground services.
The company sources most of its parts and engines from retired aircraft which they strip down. Anything that cannot be reused is disposed of in an environmentally-friendly way.
In 2014 US investment group CarVal Investors took an 80% stake, backing the acquisition of Crawley-based Airline Services Components the following year. Sales for the company reached £15.3 million in 2015.