Nasmyth Group Announces Investment from Rcapital Added 22/2/2022
The Board of Nasmyth Group the provider of specialist precision engineering services to the aerospace, defence and related industries (“the Group”) today announces that it has completed a comprehensive recapitalisation that will give the business the stable foundation it needs to drive ingenuity and continue to serve the needs of its customers around the world.
Under the terms of the recapitalisation Rcapital, the provider of investment, commercial expertise and hands-on support to businesses, will take a significant equity investment in Nasmyth Group, alongside the existing management team, and will also deliver long term debt facilities with its partner, Secure Trust Bank Commercial Finance. Nasmyth Group will continue to be led by its existing management team, headed by Peter Smith and Simon Beech who will work alongside Rcapital to implement a strategy to grow the Group further.
This recapitalisation will give Nasmyth Group a stable financial platform to seek opportunities to grow the business and capitalise on what is expected to be a major rebound in demand over the coming months.
Commenting on this announcement, Peter Smith, Chairman and CEO of Nasmyth Group said:
“This is a milestone moment for Nasmyth. We have weathered the unprecedented effects of Covid on the industry, and have emerged with a strong order book as commercial aviation begins to recover to normal levels. We have taken the opportunity to recapitalise our business and have the luxury of a strong balance sheet, long-term committed debt facilities and the potential to make acquisitions that expand our footprint further. This gives us significant competitive advantage.”
Chris Campbell, a Partner of Rcapital added:
“From the outset, it was clear to us that Nasmyth is a fantastic business with huge potential, strong customer and supplier relationships and a talented team of dedicated professionals. We are delighted to partner with the senior Nasmyth team and look forward to working together to realise the Group’s potential.”
Tony Young, Regional Sales irector at Secure Trust Bank Commercial Finance, said:
“We have worked closely with the Nasmyth management team and Rcapital to understand the business and the growth opportunities available through an increasing and strong order book. Working with Rcapital, we have provided a flexible facility that will enable the business to make the most of these opportunities and meet its ongoing growth aspirations.”
-ENDS-
Notes to Editors
About Nasmyth Group
www.nasmythgroup.com
@NasmythGroup
- Established in December 2003, Nasmyth Group brings together in a single effective team, the collective expertise, resources and technology of the customer-orientated, precision engineering businesses. These provide the basis for four global specialist divisions:
- Machining
- Systems and Defence
- Fabrication and Welding
- Metal Treatments
- Nasmyth Group currently employs over 600 highly experienced and specialist industry professionals.
- Nasmyth Group’s capabilities include:
- Design and reverse engineering, supported by CAD/CAM, the latest analytical techniques and testing facilities and state of the art analytical techniques and technologies
- Precision machining and shaping of high-performance metals and materials
- Construction, testing and certification of both simple and complex structures using the most advanced welding and assembly techniques
- System engineering and total product or component solutions
- Plasticised, chemical and thermal treatments and repairs
- Global supply chain management and logistical solutions
- Best-in-class after-sales support
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Nasmyth Group Marketing Nasmyth Group Press Office
Phone: +44 (0) 7788 313647 Phone: +44 (0) 1252 448 169
Email: [email protected] Email: [email protected]
About Rcapital
Rcapital provides private investment, commercial expertise and hands-on support to transform and grow businesses. Working together with management teams Rcapital focusses on driving performance and delivering results. It prides itself on being more than a turnaround investor, seeing potential in complex situations and working with management teams to share in success.
Since 2004, Rcapital has made over 70 portfolio investments from a wide range of industries and geographic spread. Rcapital structures straightforward transactions to meet the needs of sellers, management teams, employees and stakeholders to resolve complex situations. It considers all investment opportunities; typically focussing on SMEs with a turnover between £5m to £200m, investing up to £20m. www.rcapital.co.uk
About Secure Trust Bank:
Secure Trust Bank is an established, well-funded and capitalised UK retail bank with a 69-year trading track record. Secure Trust Bank operates principally from its head office in Solihull, West Midlands, and had 940 employees (full- time equivalent) as of 30 June 2021.
The Group's diversified lending portfolio currently focuses on two sectors:
- Business Finance through its Real Estate Finance and Commercial Finance divisions,
- Consumer Finance through its Motor Finance, Retail
- Finance and Debt Management divisions
Secure Trust Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Secure Trust Bank, PLC, One Arleston Way, Solihull, B90 4LH.
www.securetrustbank.com
