Aerospace supplier Mettis acquired in big private equity deal
REDDITCH-based aerospace supplier Mettis has been acquired by Stirling Square Capital Partners in an undisclosed private equity deal.
Mettis, which employs around 500 people, is a leading global service provider of flight critical precision-forged and machined components.
The company, acquired from Saints Chamonix, has a rich aviation heritage stretching back to the 1930’s during which it has worked on such illustrious projects as the famous Supermarine Spitfire and Sir Frank Whittle’s development of the first jet engine.
In the civil sector it has supplied such pioneering aircraft as Concorde, the Boeing 747 Jumbo Jet and giant, double-decked Airbus A380.
Today it is a key supplier to the likes of Rolls Royce, Boeing and Airbus, and is well established on commercial aerospace programmes such as A350XWB, B787, Trent 1000 and GenX engines.
The company 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.
It 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.
Gordon Fraser, CEO, Mettis heads an experienced senior management team which Stirling Square will work with to pursue further organic and acquisition growth opportunities for the company.
Julien Horreard, of Stirling Square said: “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.”
A leading pan-European mid-market private equity firm, Stirling Square has a broad portfolio of companies spread across the continent.
Altium acted as exclusive financial adviser to Stirling Square Capital Partners on the acquisition.
