Inflexion partners with Auctus to back buyout of Shimtech

Inflexion and Auctus Industries (Auctus) are pleased to announce the $220m (£141m) buyout of Shimtech Industries Ltd (Shimtech), the global market leader in the manufacture of specialist gap management components that are critical in the assembly of commercial and military aircraft, from Bridgepoint Development Capital.

Shimtech is the largest manufacturer of aerospace shims and laminated shim material in the world. It is also a leading supplier of high performance, lightweight composite structures and assemblies to the commercial and military aerospace markets. Shimtech is a UK headquartered company with four manufacturing facilities in the US as well as three in the Europe. Shimtech has won many high profile awards from some of the leading names in aerospace for outstanding performance.

The new investment will help accelerate organic expansion, enabling Shimtech to capitalise on global growth in the sector, drive value from recent acquisitions and support further consolidation opportunities.

The opportunity to invest in Shimtech came through Inflexion’s relationship with Terry Twigger, former CEO of Meggitt Plc and co-founder of Auctus, which sourced the acquisition. Auctus is a vehicle established to consolidate niche Tier 2 and Tier 3 components suppliers in the aerospace sector with the aim of creating a global, diversified aerospace group. Terry Twigger will become Chairman of Shimtech.

John Hartz, Managing Partner at Inflexion, commented “We’re delighted to have backed the buyout of Shimtech, a niche market leader serving the multi-billion dollar aerospace sector. Macroeconomic factors, well-known to us through our investment in CTC Aviation, indicate an attractive global opportunity for the company. We look forward to working alongside Howard Kimberley, Terry Twigger and the experienced team at Auctus.”

Terry Twigger, Co-founder of Auctus, commented “I am really pleased to have the opportunity of working with Howard Kimberley and the team at Inflexion. Shimtech is a world class business and a great platform on which to base the future expansion of Auctus.”

Howard Kimberley, CEO of Shimtech, commented “Shimtech is a full-service international aerospace business and a world leader in the provision of gap management solutions to the global airframe manufacturers. With our new world-class facility opening in early summer and recently acquired composites businesses, we are well-placed to capitalise on the significant growth opportunities that lie ahead. We are delighted to be partnering with Inflexion and Auctus at this next stage in our development and look forward to continuing to build scale in our operations, to broadening our technology and capability base, and above all, to supporting our global customers as production rates for commercial aircraft continue to increase over the next few years.”

John Hartz and Catherine Richards of Inflexion will join the board as Non-Executive Directors together with Valerio Massimo di Roccasecca and Edward Spencer-Churchill of Auctus.