Rcapital acquires aerospace and defence engineering biz FGP Group

FGP Group is an aerospace and defence engineering business.

  • Rcapital acquired the business from 126 individual shareholders
  • FGP comprises FGP Systems, FGP Lufton and Ramp Surface Coatings
  • Rcapital is a London-based private equity firm

Rcapital has completed the acquisition of FGP Group, an aerospace and defence engineering business.

The group comprises FGP Systems and FGP Lufton and includes Ramp Surface Coatings. FGP Systems and FGP Lufton are based in Weymouth and Yeovil in England, respectively.

Rcapital acquired the business from 126 individual shareholders who were participants in the Cyrus Secured Loans Precision Engineering EIS Fund.

The transaction was delivered via a solvent sale of the shares in FGP Systems and Heartland Engineering.

“FGP Group is a solid business which boasts a number of blue-chip clients and has a role in several key aerospace projects,” said Sam Duberley, investment manager at Rcapital.

FGP’s blue chip customers include Honeywell, Collins Aerospace, Martin Baker and Curtis Wright. It also participates in several flagship aerospace programmes including Airbus A350 and A320, Boeing 737 and 787, as well as major defence platforms including the Eurofighter and F35.

The deal will mean that over 200 jobs in Dorset are protected, according to a release.

No financial details of the transaction were disclosed.

London-based Rcapital focuses on SMEs with a turnover between £5 million to £200 million ($253.7 million; €234.5 million), investing up to £20 million.

Rcapital was advised Pinsent Masons (legal – banking), Browne Jacobson (legal – corporate), Pembroke Briggs (valuation), Verlingue (insurance), and Lightbulb (credit insurance).