FGP Group acquisition by Rcapital secures 200+ Dorset jobs

Private investor Rcapital has bought Dorset-based aerospace and defence engineering business FGP Group in a move set to protect more than 200 jobs.

The group comprises Weymouth precision engineering firm FGP Systems; Yeovil’s FGP Lufton, which makes parts for the aerospace sector; and Ramp Surface Coatings.

Rcapital acquired the business from 126 individual shareholders in a transaction delivered via a solvent sale of the shares in FGP Systems and Heartland Engineering, Weymouth.

The existing management team at FGP is to remain in place with support from Rcapital, which will work to stabilise trading and position the business for growth.

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

“Rcapital has an extremely strong track record in the sector and FGP Group complements a number of our other investments.

“We’re looking forward to working with the management team to strengthen the business and secure long-term growth.”

Among FGP’s blue-chip customers are Honeywell, Collins Aerospace, Martin Baker and Curtis Wright.

It also contributes to flagship aerospace programmes such as the Airbus A350 and A320, as well as the Boeing 737 and 787.

The group’s management was advised on the deal by Alvarez & Marsal, Trethowans and RSM. Rcapital was advised by Pinsent Masons, Browne Jacobson, Pembroke Briggs, Verlingue and Lightbulb.

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