Better picks up CAV for £40m

The fresh cash will be used to provide working capital and support the company's expansion. Better stated it had been tracking the company for several years.

Despite already owning a company in the sector, Better has asserted that CAV will be managed independently to Gardner Aerospace.

Company
CAV is an aerospace manufacturing business that supplies complex metallic components and sub-assemblies to original equipment manufacturers. Clients include Airbus, Embraer and Gulfstream Aerospace

The business operates from seven sites: four in the UK; two in Poland; and one in Mexico. In 2013 the company generated revenue of £74m and is operating close to break-even.

People
Nick Sanders is an operating partner at Better Capital.

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