Member Article

Leeds SME private equity fund Enact invests in Bristol jet fighter simulation firm

Leeds-based SME fund Enact, which is managed by private equity house Endless, has taken a majority stake in Bristol firm Stirling Dynamics.

Stirling is an advanced engineering design firm supplying the aerospace, marine and energy sectors.

It employs 102 staff, and is currently working with Lockheed Martin on the provision of training simulators for military pilot training programs into the F35 Joint Strike Fighter programme.

This is Enact’s second deal following the investment in West Cornwall Pasty Company earlier this year.

Enact has ambitious plans for the business with significant capital to be invested in supporting the development of the existing product range, continued product diversification and enhancement of the consultancy services offering.

Chris Cormack, investment director at Enact, joins the Stirling Dynamics board and will support the existing management team, led by managing director Stephen Judd. Robert Stirling, founder of Stirling Dynamics, will remain with the company as its president.

He said: “Stirling Dynamics has an excellent reputation and track record, backed by 25 years of accumulated experience, IP and know-how in the advanced engineering sector and we are delighted to support the existing management team in delivering their plans for further growth.

“Our investment not only puts in place a succession planning strategy for the business going forward, but also provides scalability of supply to the existing product range, particularly around military training simulations for the F-35 jet fighter programme.

“With this and other blue chip client partnerships in global markets including Europe, the USA and Asia, Stirling Dynamics is in a strong position to grow and build on its success to date.”

Mr Judd added: “Enact was carefully selected by the existing management team as the investment partner of choice, to take Stirling Dynamics to the next stage of its development.

“Facilitating our plans for growth through investment capital and management support, Enact will provide the tools necessary to achieve our aspirations whilst valuing the key attributes that are the essence of the company.”

Enact was advised by Simon Pilling and James Cook of Gordons, and Russ Cahill of the Tax Advisory Partnership.

This was posted in Bdaily's Members' News section by Clare Burnett .