Redditch-based Mettis Aerospace, the private equity-backed components maker which counts Airbus and Rolls-Royce among its clients, has reported that turnover is now close to £70 million and pre-tax profits have almost doubled.
Mettis was bought from Saints Chamonix by Stirling Square Capital Partners in February 2016, with its management team co-investing as part of the deal.
CEO Gordon Fraser praised the performance as “tremendous”. He added: “The figures for 2016 represent the best operating results Mettis has ever had.
“Revenues are expected to grow by a further 15% in 2017. We are also seeing our order book growing, putting us in a very strong position.”
The group is now looking to open a facility in Bangalore to help meet growing customer demand; it is also exploring acquisition opportunities in Northern Europe and the USA.
Mettis began life in the 1930s as High Duty Alloys. It moved to Redditch in 1938 to support the war effort and Spitfire programme.
It now employs more than 500 people at its 1.2 million ft
2 base in Redditch and is one of the largest employers in the town.