Nasmyth announces successful restructuring of its parent company, and a significant increase in its capitalisation to allow further growth. Added 5/5/2023
The Board of Nasmyth is pleased to announce the completion of a holding company restructuring that will provide both the financial security and capital base it needs to continue to prosper into the future. Nasmyth (“The Company”), which has a growing orderbook and improving financial performance, will continue to be owned by Rcapital. As part of the restructuring plan, the company has been further supported through the provision of a further £5m financing facility to support its planned growth in 2023.
The Board appreciates the support and understanding shown by Nasmyth’s customers, suppliers, and employees in the face of media speculation over the course of this week. The successful completion of the restructuring of Nasmyth Group Limited and continued financial support from Rcapital, will enable the company to complete its turnaround and to support its customers by increasing its production volumes in line with the anticipated increase in flying hours and defence production volumes globally.
As intended, the restructuring has not involved any job losses and the Group’s trading subsidiaries have continued to trade as normal during the period.
Over the course of Rcapital’s ownership, Nasmyth has invested in new technology and skills development in UK, a new management team and the expansion of Nasmyth’s Asian manufacturing capability. With the restructuring complete and the new financing facility in place, this leaves Nasmyth well-positioned to prosper in the future.
Tony Upton, CEO of Nasmyth commented “With Rcapital’s ongoing support, Nasmyth will continue to make significant steps forward operationally and financially. We are well on the road to achieving our ambition to becoming a guardian and developer, of the key machining and fabrications skills necessary to support whole manufacturing life cycle for the aerospace and defence sectors.”
Notes to Editors
About Nasmyth
www.nasmyth.com
- Established in December 2003, Nasmyth brings together in a single effective team the collective expertise, resources, and technology of the customer-orientated, precision engineering businesses. These provide the basis for four global capabilities:
- Machining of hard and soft metals
- Systems and Defence manufacturing and assembly
- Fabrication and Welding
- Metal Treatment
- Nasmyth currently employs over 450 highly experienced and specialist industry professionals.
- Nasmyth’s capabilities include:
- Design and reverse engineering, supported by CAD/CAM, the latest analytical techniques and testing facilities and state of the art analytical techniques and technologies.
- Precision machining and shaping of high-performance metals and materials.
- Construction, testing and certification of both simple and complex structures using the most advanced welding and assembly techniques.
- System engineering, assembly and total product or component solutions
- Chemical and thermal treatments and repair.
- Global supply chain management and logistical solutions
- Best-in-class after-sales support
Nasmyth Press Office
Phone: +44 (0) 1252 448 169
Email: [email protected]
About Rcapital
Rcapital provides private investment, commercial expertise, and hands-on support to transform and grow businesses. Working together with management teams Rcapital focusses on driving performance and delivering results. It prides itself on being more than a growth and turnaround investor, seeing potential in complex situations and working with management teams to share in success.
Since 2004, Rcapital has made 75 portfolio investments from a wide range of industries and geographic spread. Rcapital structures straightforward transactions to meet the needs of sellers, management teams, employees, and stakeholders to resolve complex situations. It considers all investment opportunities; typically focussing on SMEs with a turnover between £5m to £200m, investing up to £20m.
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