a2e Industries secures £25m long-term AS.G funding from Magnetar Capital

a2e Industries has secured a £25 million term loan facility for its fast-growing aerospace grouping, Aero Services.Global group (AS.G), with a new funding package provided by Magnetar Capital (Magnetar). Dow Schofield Watts Transaction Services provided financial due diligence.

In addition, Close Brothers Asset Finance has provided finance facilities of £6 million, bringing the total committed funding to £31 million.

AS.G was founded in 2015 with the aim of developing a highly specialised and innovative aerospace group with a unique offering. It started operations with the acquisition of Phoenix Ltd in December 2015 and, in just four years, has evolved into a group with seven operating businesses. Today, it boasts complimentary and added value capabilities and expertise across a wide range of safety-critical aerospace components.

The capital provided by Magnetar will support AS.G in pursuing a number of strategic acquisitions aimed at increasing the group’s prominence and breadth of capabilities in the engineering and aerospace sectors.

Amin Amiri, founder and CEO of a2e Industries, says: “We are delighted that one of our key ambitions of creating a distinctive aerospace group is coming to fruition. AS.G now has aggregate annual sales and EBITDA of £44m and £6m respectively and is progressively expanding its reach across the entire Aerospace OEM supply chain. We are thankful to Magnetar for believing in this project and for their deep commercial and financial understanding.”

Luca Di Rico, head of European Private Capital at Magnetar, says: “a2e Industries has a clear strategic vision for growth and innovation within a very sophisticated industry. We are delighted to provide an alternative capital solution to support them in further achieving their goals.”

Simon Weston, who joined AS.G in April 2017 as group managing director and has helped the business grow consistently since, says: “The funding provided by Magnetar is a fitting accolade to the development of AS.G group. The management team have been working hard over the last 3 years to strategically enhance our customer base. We aim to attract the necessary talents and to invest in the latest technologies and techniques, to enable us to keep our competitive edges directed at achieving our goal of becoming a strategic supplier to the Aeropsace OEM’s.”

a2e Industries was advised by Duff & Phelps Limited and Shoosmiths LLP. Renaissance Strategic Advisors Limited were responsible for commercial due diligence.

a2e Industries secures £25m long-term AS.G funding from Magnetar Capital