Company overview: Founded in 2005 and based at Shoreham Airport, FCSL is a market-leading provider of flight inspection services to airports. It uses its flight inspection technology, developed in-house, and fleet of six aircraft to provide testing and calibration on behalf of airports for ground-based navigational aid systems.
Our initial investment: Three of the four founding shareholders worked full-time in the business and were looking for an investor to assist with the next phase of development. The key was to attract new talent to the Board and management team, provide support with acquisition opportunities and put the foundations in place so that the founders could pursue their retirement plans. At completion we added a Chairman and CFO, both with experience running much larger businesses, but with relevant knowledge and experience.
Building value: With the strengthened team and additional financial support, FCSL will look to accelerate its overseas growth, develop new service lines and expand via acquisition for the first time. This additional expertise will also allow the business to professionalise some of its back-office functions and give the business firm foundations for the future allowing some of the founding shareholders to consider retirement in due course.
Website link: www.flight-cal.com
Completion: February 2020