Singer IRON MAIDEN BRUCE DICKINSON’s aerospace company creates 100 new jobs
Caerdava fully approved and certified maintenance, repair and overhaul (MRO) and pilot training company owned by IRON MAIDEN singer Bruce Dickinsonset to create 100 jobs following £4m investment from independent asset manager BOOST&Cowho will support Caerdavgrowth ambitions as the aviation sector continues its post-COVID recovery.
Founded in 2012, Caerdav provides aircraft maintenance, repair and overhaul (MRO), consulting and pilot training services to major carriers, aircraft leasing companies and private customers. The company, which is based in the Aerospace Enterprise Zone at St Athan – Cardiff Airport in South Wales, UK, will use the funding to expand its current record order book and strong new business portfolio, addressing the backlog of aircraft maintenance needs deferred from the COVID-19 pandemic.
BOOST&Co chose to work with Caerdav thanks to its strong and highly experienced management team which, since its appointment in early 2019, has been responsible for accelerating the growth and development of the company. The lender also cited Caerdavthe industry’s excellent reputation as a long-established company in the aviation sector, and its continued commitment and support to local communities in South Wales.
Caerdav specializes in the Boeing 737, 757, 767 and Airbus A320 aircraft families and holds all necessary approvals, including EASA, FAA, UK CAA and TCCA licenses, enabling the company to provide services to all major concerned target economies. The company is based in a 134,000 square foot hangar complex in Wales, including a 6,000 foot runway, which is one of the most demanding maintenance facilities of its kind for civilian use.
BOOST&Co is a leading provider of growth capital for fast-growing, innovative UK SMEs. The independent asset manager offers loans ranging from £2m to £10m, covering a wide range of sectors. It has funded over £500m across more than 130 deals to date and provided nearly £200m under the government’s CBILS initiative to support SMEs during COVID-19.
Kim MartinHead of South and Midlands at BOOST&Cosaid: “We are delighted that bruce and the management team chose us to be the funding partner of choice for Caerdav. Their commitment to the company and the local community has been unwavering over the past few years and we are confident that this funding will enable the company to capitalize on the current market opportunity and realize exciting growth plans. Caerdav is one of the last independent MROs in the UK and developing and retaining this skill set is essential as the airline industry continues its post-COVID recovery.”
Joachim Jonesgeneral manager of Caerdavsays, “We have been on a steady upward trajectory over the past year and this latest investment should only further accelerate our growth plans. The airline industry has had to show tremendous resilience during and after 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 deliver. Going forward, we are extremely pleased to have received this funding, which will allow us to significantly expand our operations and provide support to more organizations in the aviation sector. »
Due diligence for this transaction was performed by Azets. Humble Leecorporate finance partner at Azetssaid: “We are delighted to have advised BOOST&Co on its funding Caerdav. The investment will support a key supplier to the aviation industry and support an expansion project that will bring significant benefits to the company and all of its stakeholders. It was a pleasure to work with BOOST&Co and the Caerdav team and we wish them the best for the future.”
Operating from a former RAF maintenance base equipped with a 6,000ft ILS runway and parking for up to 20 narrow-body airliners, Caerdav specializes in MRO work for Airbus 320s and Boeing 737s, and provides comprehensive training for airline pilots and cabin crew.
Image reproduced with the kind permission of Caerdav