August saw the completion of my largest deal since starting my own specialist consultancy business 12 years ago.

August saw the completion of my largest deal since starting my own specialist consultancy business 12 years ago.

Exponent Private Equity Llp purchased Pattonair Ltd the aerospace and defence division of Umeco Plc for £145 million. This business supplies aircraft engine components in supply chain contracts for major jet engine manufacturers round the world, but principally to Rolls Royce in the UK, USA and Europe.

We raised £55 million with added legroom to increase credit lines by £12 million over the next 18 months to finance future growth through new long term contracts with Rolls Royce and others.

The credit line, which was subsequently syndicated with two other lenders, was secured against property, stock and debtors.

The deal took seven months to negotiate and complete involving site visits to Europe and USA. A difficult and protracted affair with bizarre twists and turns from Umeco, Rolls Royce and lenders along the way made for a most entertaining but exhausting time.

A very satisfying and worthwhile project working with an excellent team from Exponent which will never be forgotten.