An aviation maintenance firm chaired by lead singer of Iron Maiden, Bruce Dickinson, is creating 100 jobs in South Wales.
Caerdav, based at St Athan, is creating new roles on the back of a £4m investment from independent asset manager BOOST&Co.
Founded in 2012, Caerdav provides aircraft maintenance, repair and overhaul (MRO), consultancy and pilot training services to large carriers, aircraft leasing companies and private clients.
The business, which is owned by Mr Dickinson, will use the funding to expand upon its current record order book and strong new business pipeline - fulfilling the backlog of aircraft servicing requirements carried over from the Covid-19 pandemic.
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The firm currently employs around 120, based at a 134,000 sq ft hangar complex with a 6,000 ft runway. It is one of the highest specification maintenance facilities of its kind in civilian use.
BOOST&Co is a leading provider of growth capital for innovative, fast-growing UK SMEs.
Kim Martin, head of south and Midlands at BOOST&Co, said: “We are thrilled that Bruce and the executive team selected us to be the chosen funding partner to Caerdav. Their commitment to the business and the local community has been unwavering in recent years and we are confident this funding enables the business to capitalise on the current market opportunity and deliver exciting growth plans. Caerdav is one of the last independent MRO’s in the UK and it is vital to nurture and preserve this skillset, as the airline industry continues its post-Covid recovery.”
Joachim Jones, chief executive at Caerdav, said: “We have been on a continued upwards trajectory during the past year and this latest investment is only set to accelerate our growth plans further. The airline industry has had to show tremendous resilience during and following the Covid-19 pandemic and its recovery will only be as strong as the support it receives, which Caerdav is in a fantastic position to provide.
“Subsequently, we are extremely pleased to have received this funding, which will enable us to significantly expand our operations and offer support to more organisations across the aviation sector.”
Due diligence for the deal was provided by Azets. Caerdav was advised by WH Ireland.
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