A global specialist in providing ‘cost-saving aftermarket support solutions’ to the aviation industry,
AerFin has signed a 10-year lease agreement with
St Modwen Logistics, one of the UK’s leading logistics developers and managers. The lease is for a new 115,000ft
2 facility at St Modwen Park, Newport, which will act as the company’s global headquarters from the end of 2024.
The facility offers custom-built space for enhanced aviation aftermarket services activities, including engine disassembly and maintenance, repair and overhaul operations, as well as traditional warehousing and logistics. The agreement doubles AerFin’s engine MRO capacity to around 200 quick-turn shop visits per year and expands its UK storage capacity by a third.
Additionally, some 5,600ft
2 of high-specification office space offers an environment in which AirFin can drive the continued growth of the company’s global commercial operations. Another development earlier this year saw the US equity firm Blackstone announce that from July 2024, St Modwen Logistics’ portfolio of assets will become part of Indurent, a new UK logistics company that will have more than 200 assets totalling 26 million ft
2 of logistics space.
Simon Goodson, AerFin’s CEO, said: “We are pleased to commit to our new, global headquarters, marking a significant milestone in AerFin’s growth story. This move will significantly enhance our operational capacity and position us well for continued expansion. We are collaborating with our contractors to ensure the space is fully functional by year-end.”
Peter Davies, St Modwen Logistics’ senior development director, added: “The growth story of AerFin from local consultancy to global player in the aviation world is impressive, and we are proud they have chosen St Modwen Park Newport to base their new global headquarters. AerFin’s arrival is yet another feather in the cap for the park.”