Britten-Norman has secured last-minute investment as the UK aircraft manufacturer faced the risk of being forced into administration. A group of investors, led by private equity firm 4D Capital Partners, will now make funds available ‘to fund working capital and to drive successful long-term growth’.
“The board has been in an extended process to secure the right investment that would allow Britten-Norman to deliver its plans to scale up output to meet demand,” commented Britten-Norman chief executive William Hynett. “Following a great deal of interest in the business, we are pleased to have identified a new investor that shares our vision and strategy”.
Founder of 4D Alex Silk elaborated: “From the outset we saw the latent value in Britten-Norman, which has been underperforming since the pandemic. In addition to bringing working capital, our team will work closely with management to help the company ramp up production to meet the exciting demand for its sought after Islander aircraft”.
As the UK’s last fixed-wing aircraft manufacturer, Britten-Norman produce the twin-aircraft Islander, which is currently in operation around the world. The company repatriated its production line from Romania to its original home of Bembridge, located on the Isle of Wight, last year.
Britten-Norman secures new investment
