British maintenance provider Caerdav plans to create 100 new jobs following investment of £4 million ($4.7 million) from an asset management firm.
BOOST&Co, headquartered in London and specializing in small to medium-sized businesses lending, will invest in Caerdav to help grow its workforce at its 134,000 ft.2 hangar complex in St. Athan, Wales.
The business is owned by Iron Maiden frontman and entrepreneur Bruce Dickinson and specializes predominantly in Boeing 737 and Airbus A320 base and line maintenance. However, it also holds capabilities for 757 and 767 repair services.
Joachim Jones, chief executive at Caerdav, says the investment will help the company expand its operations while growing its support capacity to more aviation customers.
“We have been on a continued upwards trajectory during the past year and this latest investment is only set to accelerate our growth plans further,” Jones says. “The airline industry has had to show tremendous resilience during and following the COVID-19 pandemic and its recovery will only be as strong as the support it receives, which Caerdav is in a fantastic position to provide.”
Kim Martin, head of South and Midlands at BOOST&Co, says the independent investor feels the funding enables Caerdav to capitalize on the current market opportunity and deliver plans. “Caerdav is one of the last independent MROs in the UK and it is vital to nurture and preserve this skillset, as the airline industry continues its post-COVID recovery,” she says.
Caerdav re-shaped its executive team in early 2019 with Dickinson, previously acting as chairman, taking 100% shareholder control of the business founded in 2012 as Cardiff Aviation.
Caerdav had been seeking fresh investment before the outbreak of COVID-19. In late 2019, it signed a memorandum of understanding with Dubai-based conglomerate MOBH Group, an investor primarily in real estate, which it hoped would lead to the building of new facilities and training capabilities at Bro Tathan business park in South Wales. This investment was shelved following the outbreak of the crisis.
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