An aviation engineering firm which specialises in providing airlines with used aircraft parts and engines has been named the fastest-growing company in the UK.
AerFin Ltd, based on Bedwas House Industrial Estate, in Bedwas, was named on the Sunday Times Virgin Fast Track 100 list after it grew its sales by 231.26% between 2014 and 2016.
The latest award follows its top-listing on the Fast Growth 50 list – a league of the fastest growing Welsh firms in addition to being named the UK’s fastest-growing exporter.
Total sales for 2016 was £60.8m.
The company was founded in 2010 by industry veteran Bob James – the firm’s Chief Executive.
Speaking in an interview with BusinessNewsWales.com, Mr James said: “To be honoured in this way reaffirms that our primary focus on our customers is the right strategy.
“We have built a formidable team that manages to successfully combine an entrepreneurial approach to everything we do whilst at the same time keeping complete focus on our return to our shareholders.
“It strengthens our commitment to continue pushing the business forward and we have strong plans for our future growth.
“This award is an enormous tribute to all our employees and would not be possible without our customers and partners.”
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.
Creating anymore jobs in the area?
Not knocking them just want to know.