Britten-Norman marches on

The company literally has had its ups and downs.  Britten-Norman (BN) is refinanced.

Following problems highlighted in last month’s TNU BN has secured new investment from a group of investors led by 4D Capital Partners LLP (4D), a Private Equity firm that focuses on operational improvement and business transformation. These investors are making funds available to supply working capital and drive successful long-term growth.

William Hynett OBE, Chief Executive of BN, 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”.

Founded in 1954 by John Britten and Desmond Norman over 1,300 BN Islanders have been built, mainly in Romania. In September the company announced the return of production to its historical home at Bembridge, Isle of Wight.

The transaction secures 117 jobs across BN’s head office and manufacturing site on the Isle of Wight, hangars in Lee-on-Solent, its design and engineering site in Southampton, and sales office in London.

https://britten-norman.com

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