Acro Aircraft Seating ready for take off with £7.75m investment
Backing from the Business Growth Fund will enhance airline seat manufacturer’s product development capabilities
Acro Aircraft Seating, an aerospace design and engineering company, has secured £7.75m in growth capital from the Business Growth Fund (BGF).
Founded in 2007, Crawley-based Acro was established to capitalise on the growing low-cost carrier market by designing and manufacturing maintainable, robust and lightweight economy airline seats.
Now producing around 25,000 seats a year for customers including Jet2, Thomas Cook and Spirit Airlines, Acro expects to hit revenues of £33m for the year to January 2016.
Having previously grown organically, the investment will enable the company to improve its design and product development capabilities, bolster its supply chain and to fund its future order pipeline.
Acro CEO, Chris Brady, commented: “We’ve worked hard to grow Acro and by investing every scrap we’ve made in our staff, products and infrastructure we have managed to double the size of the business every year for the past four years, but we still have ambitious plans. Our partnership with BGF will allow us to bring those plans to life, which is hugely exciting.”