Aircraft manufacturer Britten-Norman has secured its immediate future after an investment syndicate led by private equity fund 4D Capital Partners acquired the business for an undisclosed amount last week. The sale follows a February 2024 decision by Britten Norman Aircraft Limited, a subsidiary of the Britten Norman Group, to ask the UK courts to appoint an administrator.
“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,” commented Britten-Norman chief executive William Hynett. “Following a great deal of interest in the business, we are pleased to have identified a new investor that shares our vision and strategy.”
The Ainonline.com portal provides additional detail on the transaction, reporting that a 4D Capital-owned entity called Shelton Bidco Ltd has acquired 100% of the share capital in a newly incorporated company named Britten-Norman Aerospace Ltd.
In February, a Britten Norman spokesperson said appointing an administrator would allow the 70-year-old company to explore its investment options and help safeguard the company’s interests. In September 2023, B-N Group moved the manufacturing of its BN-2 Islander and Defender aircraft types back to the Isle of Wight after 50-plus years of production in Romania. However, in recent months, aircraft manufacturing work had ceased in order to preserve cash flow.
The original target was to build four aircraft this year, ramping up to eight by 2026. Hynett told Ainonline that he now hopes to start converting letters of intent for 30 – 40 aircraft into firm orders and deposits and is in talks with the new owners whether the planned production rate needs to increase.