Bembridge-based aircraft manufacturer, Britten-Norman, has been taken over resulting in a working capital injection into the business and support to ramp up production. Last month Island Echo reported that an intention to appoint notice had been filed at the King’s Bench Division of the High Court in London, as the company looked to ‘protect the position of the business’. Since then, Island Echo has been seeking clarification on the situation, but no information has been forthcoming. It has been a stressful few weeks for staff with anticipated announcements pushed back several times. Now, it has been announced that 5 companies connected to Britten-Norman – B-N Group Ltd, Britten-Norman Ltd, Britten-Norman Aircraft Ltd, BN Defence Ltd and BN Daedalus Ltd – were all placed into administration yesterday (Thursday). The joint administrators – Interpath Advisory – then sold 100% of Britten-Norman Aerospace Limited (previously known as BN Aviation Ltd. up until 29th February) to Shelton Bidco Limited, established by a group of financial investors led by 4D Capital Partners. The company is led by 39-year-old Richard Alexander Silk. Immediately after, the business and assets of the 5 companies in administration were acquired by Britten-Norman Aerospace Ltd.. The sale price has not been disclosed. 
Shelton Bidco Limited has also acquired the share capital of the firm’s US entities – BN Aircraft Sales Inc and Britten-Norman Inc. The takeover has secured 117 jobs not only at Bembridge but across Britten-Norman’s operations including at its head office, its sales office in London, its engineering site in Southampton and at Lee-on-Solent. Britten-Norman Chief Executive, William Hynett OBE, has commented:
“The board has been in an extended process to secure the right investment that would allow Britten-Norman to deliver its plans to scale up output to meet demand. “Britten-Norman is a brand with a rich and entrepreneurial aviation heritage which takes great responsibility in playing a vitally important role in supporting its world-wide customer base. These customers are the bedrock of their societies, often providing critical infrastructure or life-critical services such as maritime search and rescue and medical evacuation. “Following a great deal of interest in the business, we are pleased to have identified a new investor that shares our vision and strategy.”
Richard ‘Alex’ Silk, founder of 4D, has said:
“From the outset we saw the latent value in Britten-Norman, which has been underperforming since the pandemic. In addition to bringing working capital, our team will work closely with management to help the company ramp up production to meet the exciting demand for its sought after Islander aircraft”.
Chris Pole, Managing Director at Interpath Advisory, has said:
“Britten-Norman is an important part of the UK aerospace industry that has a long track record of supplying world-renowned aircraft. We’re proud to have secured a future for the business and enable the management team to build on that heritage with fresh investment. “Crucially, the deal also enables the transfer of all staff and the ability to secure precious manufacturing and engineering capability in the UK.”
Last September Island Echo reported that Britten-Norman was bringing back the production of its famous Islander aircraft to Bembridge, more than 50 years after production moved to Romania.
