Chaired by lead singer of Iron Maiden, Bruce Dickinson, aviation business Caerdav is set to create 100 jobs following a £4 million 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. As the aviation sector continues its post-Covid recovery, the firm will use the funding to expand upon its strong new business pipeline, fulfilling the backlog of servicing requirements.
Caerdav is one of the only independent UK-based MROs, specialising in the A320 and B737 families of aircraft. They have trained thousands of pilots who now work in every sector of commercial aviation, ranging from B747 cargo operators to captains on national flag carriers.
Their facilities include a 6,000ft/1825m runway – just 20 minutes’ flight time from London Heathrow, London Gatwick, Luton, Stansted and Manchester, and three miles from Cardiff International. The site also benefits from one of the highest-specification maintenance hangars in civilian use.
BOOST&Co has chosen to work with Caerdav due to its strong and highly-experienced executive management team who, since their appointment in early 2019, have been responsible for an acceleration in the company’s growth and development. The lender also cited Caerdav’s excellent industry reputation as a long-established business in the aviation sector, as well as its continued commitment and support for local communities across South Wales.
Kim Martin, Head of South and Midlands at BOOST&Co, says:
“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, says:
“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 this deal was provided by Azets. Lee Humble, Corporate Finance Partner at Azets, says:
“We are delighted to have advised BOOST&Co on its funding of Caerdav. The investment will support a key supplier to the aviation industry and support an expansion project that will bring significant benefits to the business and all of its stakeholders. It was a pleasure working with BOOST&Co and the Caerdav team and we wish them all the best for the future.”