Isle of Wight based aircraft manafacturer Britten Norman has secured the investment it was seeking to fund the scaling up of output to meet to demand for its aircraft.
The investment has come from a group of investors led by 4D Capital Partners Group LLP and will provide funds to Britten Norman for working capital and drive its long-term growth.
Britten Norman is the manafacturer of the popular twin-engined light commercial aircraft, the Islander which is used by airlines as well as by law enforcement and medical sevices.
Britten-Norman Chief Executive, William Hynett OBE, commented: “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. Britten-Norman is a brand with a rich and entrepreneurial aviation heritage which takes great responsibility in playing a vitally important role in supporting its world-wide customer base.
“These customers are the bedrock of their societies, often providing critical infrastructure or life-critical services such as maritime search and rescue and medical evacuation. Following a great deal of interest in the business, we are pleased to have identified a new investor that shares our vision and strategy.”
Alex Silk, founder of 4D, added: “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”.
The Islander is produced in Southern England and the company will be celebrating its 70th anniversary since it was established in Bembridge on the Isle of Wight.
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