Following the news that light aircraft manufacturer Britten-Norman had been bought out of administration, its new investors have spoken about why they chose to put cash into the troubled business.

Alex Silk, founder of private equity firm 4D Capital Partners that provided the investment said: “From the outset we saw the latent value in Britten-Norman, which has been underperforming since the pandemic. In addition to bringing working capital, our team will work closely with management to help the company ramp up production to meet the exciting demand for its sought after Islander aircraft”.

READ: Britten-Norman saved by new investment

READ: Britten-Norman files notice of intention to appoint administrators

Britten-Norman is best known for producing the Islander twin-engine sub-regional aircraft. In 2024 the company will be celebrating 70 years since it was first established at Bembridge Airport on the Isle of Wight. The manufacturer returned to it’s UK roots last year, having brought production back from Romania where assembly had taken place for many years.

William Hynett OBE, Britten-Norman chief executive  commented: “The board has been in an extended process to secure the right investment that would allow Britten-Norman to deliver its plans to scale up output to meet demand. Britten-Norman is a brand with a rich and entrepreneurial aviation heritage which takes great responsibility in playing a vitally important role in supporting its world-wide customer base. These customers are the bedrock of their societies, often providing critical infrastructure or life-critical services such as maritime search and rescue and medical evacuation. Following a great deal of interest in the business, we are pleased to have identified a new investor that shares our vision and strategy.”

The manufacturer has been in various hands over the years. The Fairey Aviation group acquired Britten-Norman from founders John Britten and Desmond Norman in 1973, but hit financial difficulties a few years later so sold to Oerlikon-Bührle. In turn, that company sold turn sold Britten-Norman to Litchfield Continental, who sold it in 1998 to Biofarm Inc.  Latterly, B-N Group acquired the assets of Britten-Norman in 2000.