STI looks to the future following acquisition by R Capital

Surface Technology International Ltd (STI) has been acquired by Rcapital which will work on refinancing initiatives for STI that will enable the business to accelerate its growth strategy, at a time when STI’s core defence and aerospace markets are experiencing significant growth. The purchase of 100% of the shares brings continuity for STI’s customers and employees across all three of its facilities, while the current management team, led by Simon Best and Tony Best, will remain in place.

Simon Best, chair of STI, said: “This is fantastic news for STI. We would like to thank IMI for the past six years of their ownership and we wish them well in their new direction. We are delighted that ownership will pass back into the hands of a British company that has a track record of helping companies grow. Our order books are stronger than they have ever been and we are anticipating significant new contract wins in the next few months. I am excited by what the future holds in store for STI, and look forward to guiding it through this next chapter in its history.”

Chris Campbell of Rcapital said: “We were introduced to STI earlier this year and have been consistently impressed by STI’s people and capabilities. Following a highly competitive sales process we have now exchanged contracts and look forward to completing the transaction later this year. It is a great business in an industry that we know well through our portfolio businesses that have exposure to the aerospace and defence markets. With a highly experienced team, decades of experience in mission critical applications and very strong relationships with global blue-chip clients, we have absolutely no doubt that STI will prosper in the years ahead.”