Stirling Square congratulates portfolio company Mettis Aerospace (“Mettis”) on its award as the British Private Equity & Venture Capital Association’s “Mid-market Management Team of the Year”. The award is part of an annual showcase by the BVCA for the UK’s best businesses backed by private equity and venture capital.
Founded in 1939, Mettis is a global leader in precision forged and machined components for the aerospace sector. The company offers a fully integrated platform of capabilities from initial design and development through to forging, machining, assembly and testing. It is a direct supplier to a global customer base including Airbus, Boeing and Rolls-Royce, providing components for a full range of next-generation programs.
Mettis is led by CEO Gordon Fraser. Since Stirling Square’s acquisition in 2016 and under Gordon’s leadership the business has grown top line revenue by nearly 40%, profitability by over 60% and launched a £30m investment programme in state-of-the-art equipment and laboratories.
Jonathan Heathcote of Stirling Square said: “I am delighted to see Gordon and his team recognised for their passion and commitment to transforming Mettis into the premier precision forging and machining business in the UK. Gordon has shown tremendous leadership over the course of our partnership. Their award is well-deserved.”
Mettis is a leading international manufacturer of precision forged and machined components used in performance-critical aerospace engines and structural applications
The transaction marks the pan-European private equity investor's fourth investment from its Third Fund, which recently held its final closing at the hard cap of €600m
23 February 2016, London - Stirling Square Capital Partners ("Stirling Square"), a leading pan-European mid-market private equity firm, today announces the acquisition of Mettis Aerospace Ltd ("Mettis"), an international manufacturer of precision forged and machined components for the aerospace sector. The business was acquired from Saints Chamonix for an undisclosed value.
Mettis offers a fully integrated platform from initial design and development through to forging (with presses ranging from 500 tonnes to 12,000 tonnes), machining, finishing and testing. Mettis has significant technical expertise and know-how in forged alloy components, of increasing importance in the aerospace sector given the emphasis on high strength and lightweight.
Founded over 75 years ago, Mettis now has an established global customer base in the aerospace sector and, in particular, significant relationships with Airbus, Rolls-Royce and Boeing. Mettis operates from a single 1,215,000 sq.ft. purpose-built facility in Redditch, UK and has approximately 500 employees. Gordon Fraser, Mettis CEO, heads an experienced senior management team who, with the support of Stirling Square, will pursue further organic and acquisition growth opportunities for the company.
Julien Horreard of Stirling Square commented, "We are delighted to be supporting this ambitious management team in the future development of one of the UK's leading manufacturers of forged safety-critical components for the aerospace industry. Aerospace is a sector known well to Stirling Square, and together with the management team, we are committed to implementing an ambitious growth plan for Mettis, including further sector consolidation."
Gordon Fraser added: "We have found a like-minded and committed team at Stirling Square to work with going forward. Mettis will benefit from their support, including their sector knowledge and pan-European outlook, as we implement the next stage of our growth plans."