LIVERPOOL aerospace company Aerogistics Holdings is to expand with the help of a £1.4m investment.
Aerogistics provides supply chain management and surface treatments to the aerospace industry, and has a customer base that includes industry giants GE Aviation, Airbus, Boeing and Rolls-Royce.
The company was formed in 2003 as a supply management company and in 2005 acquired King and Fowler, a 120-year-old Liverpool aerospace manufacturing business which specialises in surface treatment and inspection processes.
This acquisition enabled Aerogistics to provide customers with a full low cost service and also strengthened the Aerogistics brand within the sector.
Aerogistics recently opened a new facility in Poland, King and Fowler Polska, which acts as a logistics and project management hub for its Eastern European supply chain.
The investment, from Merseyside Special Investment Fund (MSIF), was led by Matt Allen, investment director of MSIF’s £40m Venture Fund and was assisted by investment manager Tim Scott.
The funding will be used to provide a partial exit to two non-active shareholders and support the expansion of Aerogistics’ Liverpool headquarters.
MSIF’s investment is in addition to ongoing support from Barclays and grant funding of £1m from the NWDA in April last year and £300,000 from Business Liverpool.
Part of this funding will be used to help the company relocate to new premises as part of its future expansion plans.
Aerogistics is run by directors Tom Dawes, Alan Bold, Nick Bell and chairman, David Bundred.
Managing director Mr Dawes said: “The investment means we can strengthen the management team and gives us the working capital to significantly develop the company.
“We will considerably grow the breadth and depth of expertise at our Liverpool headquarters by teaming up with knowledge based partners and investing in new value-adding technologies.
“MSIF has also been very supportive in the recruitment and development of our executive team, and sourced us a proven finance director and sector experienced chairman, both of whom will be a great asset to the team.”
tonymcdonough
