Fladgate LLP has advised the investment company Privet Capital on the acquisition of Aeromet, a UK based manufacturer of metal castings for the aerospace industry, from US based Black Diamond Capital Management for an undisclosed amount.
Aeromet is a world class foundry with a turnover of £20m per annum, specialising in complex castings for commercial and defence aerospace applications. It serves large OEMs including Airbus, Boeing, Rolls Royce, Embraer, Bombardier and their Tier 1 suppliers such as Meggitt, Bae, GKN and GE Aviation. In fact, Aeromet is the only European investment casting foundry approved by Boeing. It employs more than 270 staff at two sites in Kent and one in Worcester.
Fladgate corporate partner Graham Spitz advised Privet Capital with assistance from partners Luke Morris and John Forde, senior associate Mike Tremeer and associate Victoria Miller.
Simon Holliday, MD at Aeromet added: “We are delighted that Privet Capital has purchased Aeromet. With unprecedented demand for new aircraft, it is an exciting time in the aerospace sector. We look forward to working with members of the Privet team as we roll out our growth plans to capitalise on this demand from existing and new customers.”