Aerospace manufacturer secures £2.5m facility from Cynergy Business Finance

Published on

UK aerospace manufacturer, Aeromet International, has secured a £2.5m asset-based lending (ABL) facility from Cynergy Business Finance (CBF).

Operating over three sites in Worcester, Sittingbourne and Rochester, Aeromet has over 40 years of experience in supplying flight critical parts. It is a supplier of precision magnesium and aluminium castings to major global aerospace and defence original equipment manufacturers (OEMs) and Tier 1 suppliers.

The business was acquired by private equity firm Privet Capital in 2015, which undertook a deep restructure of the business, along with additional investments to enhance operational capabilities and create sustainable long-term value.

CBF worked closely with the Privet Capital and Aeromet team to structure a flexible ABL facility providing additional working capital to support the business through its next phase of growth.

Steve Keating, chairman at Aeromet International Limited, said: “With over 40 years in the industry, Aeromet is now an established critical service provider in the global aerospace and defence industry.

Aerospace manufacturer Aeromet secures £2.5m facility from Cynergy Business Finance It has been great to work with Hannah, Paul and the CBF team, and this new working capital injection will help set us up for further success as we enter our next stage of growth.”

Hannah Crow, corporate sales manager at Cynergy Business Finance, added: “Aeromet has seen impressive growth in recent years, and coupled with their decades of experience and strong relationships with some of the most well-known organisations in the aerospace sector it is clear that they are set to continue on this upward trajectory.

“We are pleased to be supporting such an innovative business, providing it with additional working capital to support their future growth plans.”

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Commuter belt triumphs as Chesham and Amersham top UK retirement wellbeing index

Chesham and Amersham, a Buckinghamshire constituency more commonly associated with the commuter belt than...

TMG Mortgage Network opens new head office and makes key hire

TMG Mortgage Network has underlined its ambitions for long-term growth with the opening of...

Millbrook Business Finance appoints operations director

Millbrook Business Finance has appointed Sally Chesterton as operations director. Chesterton (pictured) brings more than...

Nationwide cuts residential mortgage rates

Nationwide has announced a fresh round of rate reductions across its mortgage range, with...

Precise raises borrowing limits to 6x income

Precise Mortgages has lifted its loan-to-income cap to six times earnings. The lender’s criteria update...

Latest publication

Latest opinions

URGENT! AI Is coming for you. Or maybe not…

I’ll try to make this as straight to the point as I can. The...

Mind the gap: Can mortgage advice change the game for protection?

Many industry insiders still talk about the UK protection gap and how vast it...

Navigating HMO and MUFB complexity with confidence

Historically, larger Houses in Multiple Occupation (HMOs) and Multi-Unit Freehold Blocks (MUFBs) have often...

Why we shouldn’t wait for the FCA to act on later life lending

It might feel odd to be talking about a new year, when we’re barely...

Other news

Commuter belt triumphs as Chesham and Amersham top UK retirement wellbeing index

Chesham and Amersham, a Buckinghamshire constituency more commonly associated with the commuter belt than...

URGENT! AI Is coming for you. Or maybe not…

I’ll try to make this as straight to the point as I can. The...

TMG Mortgage Network opens new head office and makes key hire

TMG Mortgage Network has underlined its ambitions for long-term growth with the opening of...