A Sheffield-based manufacturer of components applied to aircraft engines, nuclear reactors and Formula 1 cars received an 8.5m investment from BGF to aid its growth plans.
The funding will assist fuel a variety of investment initiatives made to enhance IFA’s manufacturing and testing capabilities, delivering new commercial opportunities.
Operating originating from a 250,000 square centimeter facility in Sheffield, IFA manufactures high-integrity, open-die forged components for OEMs and tier-one suppliers in the aerospace, nuclear, power generation, marine and oil and coal sectors. Using materials just like nickel alloy, titanium, stainless and carbon alloys, this company primarily forges rings and bars to be used from a choice of end applications ‘from the deepest oceans to outer space’ including aircraft aerostructures and engines, industrial gas turbines, offshore oil rigs, civil nuclear reactors, f1 motor racing and space satellites.
The CEO, Andy McGuinness, was perhaps the original team that acquired IFA in 2001 from Doncasters Group. Ever since then, the business enterprise has grown to be firmly established for a major independent supplier within the global forging industry through continued investment in innovation, research & development the ones. Now exporting to a lot more than 15 countries across Europe, Asia and The usa, IFA generated sales over GBP20m in the current financial year and employs over 150 people.
Andy McGuinness says: “Forging contains a long history in Sheffield but rather than when i was in decline, the uses and applying our open-die products expanding. This marketplace offers attractive opportunities and, as a result of our look at quality and innovation, we’re also able to capitalise on these opportunities.
Since 2001, the corporation is growing steadily and stays in a strong position financially. Bringing onboard BGF like a minority partner lets us to accelerate the increase plans we’ve got in place whilst maintaining command over company.”
Barry Jackson, Investor, BGF, says: “IFA is often a well-invested business with strong leadership, an expert workforce plus a clear way of growth. Having developed deep relationships with OEMs and tier-one suppliers, the company comes with a opportunity to continue to keep build scale, capabilities and capacity, and we’re glad to be supporting their offers to do it.”