Acro Aircraft Seating raises £7.8m from BGF for expansion.
BGF has provided growth capital to support the aircraft seat manufacturer.
Acro Aircraft Seating designs and manufactures lightweight economy airline seats for carriers globally.
Crawley-based Acro Aircraft Seating has secured £7.8m in growth capital from BGF to support its expansion. The manufacturer produces lightweight economy seats for airlines around the world, supplying dozens of major carriers.
The funding will be directed towards enhancing product design capabilities, strengthening the supply chain, and providing additional working capital for future orders. Alongside the investment, BGF has taken a minority stake in the business.
Ben Kirby from BGF has joined the company board, while Bob Davies has been appointed as non-executive chairman following an introduction by the investor. Acro has experienced rapid growth in recent years, driven by the expansion of the low-cost carrier market.
From the founder
"We’ve worked hard to grow Acro and by investing every scrap we’ve made in our staff, products and infrastructure we have managed to double the size of the business every year for the past four years, but we still have ambitious plans. Our partnership with BGF will allow us to bring those plans to life, which is hugely exciting."
Chris Brady
CEO at Acro Aircraft Seating
Investor perspective
"In an industry that is incredibly risk averse and highly regulated for obvious reasons, Acro has managed to build a fantastic reputation and market share in a relatively short space of time. It has achieved this primarily by designing seats which put customer comfort first but are also robust, maintainable and lightweight. Passing the strict the regulations required to manufacture aircraft seating is a strong endorsement of both the design and manufacturing capabilities of the business."
Ben Kirby
Investor, BGF
Use of funds
- 01Continue product development
- 02Build out infrastructure
- 03Scale operations
Investors
Categories
About the company
Acro Aircraft Seating
Acro Aircraft Seating designs and manufactures lightweight economy airline seats.