Aeromet International (
www.aeromet.co.uk) — a Kent-based manufacturer of metal castings that counts Airbus, Boeing and Rolls-Royce among its clients — has been acquired by private-equity group Privet Capital.
The company, which specialises in complex castings for both commercial and defence aerospace applications and is said to have patented the strongest cast aluminium alloy available, employs more than 270 people at its sites in Sittingbourne, Rochester and Worcester.
It was acquired from US-based Black Diamond Capital Management for an undisclosed sum.
Vardhan Rajkumar, a former chairman of aircraft component maker Thermal Engineering, will join the Aeromet board as chairman. Steve Keating, managing partner of Privet Capital, will join as a non-executive director.
Meanwhile, current chief executive Jeff Smith will retire after 13 years with the business. Operations director Simon Holliday has been appointed as the new managing director.
Mr Holliday said: “We are delighted that Privet Capital has purchased Aeromet. With unprecedented demand for new aircraft, this is an exciting time in the aerospace sector.
“We look forward to working with Vardhan, Steve and other members of the Privet team as we roll out our growth plans to capitalise on the demand from existing and new customers.”