Rcapital Partners

We’re pleased to have supported UK private equity firm Rcapital’s latest investment in the aerospace sector.

Rcapital, established in 2004, specialises in carveout and special situations investments. It has invested in more than 100 UK mid-market companies across a range of industries, providing financial resources and commercial expertise to support the growth of businesses within its portfolio.

Rcapital appointed our Debt Advisory team to secure an asset-based lending package to support its latest investment. We engaged with lenders and led negotiations to deliver a funding structure tailored to Rcapital’s requirements.

The funding package provided Rcapital with the post-acquisition working capital platform needed to support Adams Aviation’s short- to medium-term strategy and give management the confidence to pursue its growth objectives. Rcapital acquired Adams Aviation Supply Company from Inorca in a corporate carve-out transaction. Founded in 1968, Adams Aviation is a distributor of parts and accessories to a global customer base of airlines, operators, maintenance companies, armed forces and aircraft manufacturers.

This transaction has seen Adams Aviation’s existing management team stay on to continue leading the business with strategic and operational support from Rcapital to drive its continued growth.

Stuart Bates, Debt Advisory Partner at FRP Corporate Finance, said: “Rcapital has a strong track record of supporting management teams to develop and grow their businesses, and access to the right capital is crucial to that success. It was therefore important that the final structure of this facility gave Rcapital the flexibility to work closely with the Adams Aviation management team and pursue the right strategy for the business’ growth.

“This asset-based lending package provides a strong foundation for the beginning of this new partnership, and I look forward to seeing how it continues to develop in the coming years.” 

Sam Duberley, Investment Director at Rcapital, added: “Adams Aviation has built a strong reputation over the years of being one of Europe’s leading aviation parts distributors. The strength of its management team is clear and that’s why we’re excited to start working with them to take the business into the next phase of its growth.

“I’m grateful for the support from Stuart and the team at FRP Corporate Finance in helping us to finance this transaction. Their advice was invaluable and they’ve been able to negotiate a funding facility that supports the beginning of our partnership with Adams Aviation.”