Aviation services firm AerFin expanding with new larger HQ operation in South Wales

Aviation service provider AerFin is investing in a new and larger global headquarters operation in South Wales. The maintenance repair and overhaul (MRO) company, which in its last financial year grew revenues by 85% to £168m and pre-tax profits more than 500% to £12.3m, has taken 115,000 sq ft of office and industrial space at St Modwen Park Newport.

AerFin, which has entered into a 10-year lease with owner of the business park in Newport, St Modwen Logistics, said its new HQ will become operation later this year when it completes a relocation from its current operation in Bedwas.

Its new facility will the company with custom-built space for enhanced aviation aftermarket services activities, including engine disassembly and MRO operations, as well as traditional warehousing and logistics. The agreement doubles AerFin’s engine MRO capacity to around 200 quick-turn shop visits per year and expands its UK storage capacity by a third. Its new HQ will also provide 5,600 sq ft of office space.

Property advisory firms Knight Frank and JLL, as joint marketing agents for the business park, acted for St Modwen Logistics on its latest letting deal. Neil Francis, head of logistics and industrial at Knight Frank in Cardiff said: “This is the biggest letting of a new build in Wales for sometime. The two remaining buildings at St Modwen Park Newport, one 40,000 sq ft and the another 110,00 sq ft, are also under offer.” Cardiff-based property advisory firm Cooke & Arkwright acted for AerFin on its new HQ deal.

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Simon Bayliss, chief operating officer at AerFin, said: “We are pleased to commit to our new, global headquarters, marking a significant milestone in AerFin’s growth story. This move will significantly enhance our operational capacity and position us well for continued expansion. We are collaborating with our selected contractors to ensure the space is fully functional by year-end to allow us to take advantage of the new facility’s unparalleled, advanced features”.

Peter Davies, senior development director at St Modwen Logistics, said: “The growth story of AerFin from local consultancy to global player in the aviation world is impressive, and we are proud they have chosen St Modwen Park Newport to base their new global headquarters. AerFin’s arrival is yet another feather in the cap for the park and its growing reputation as an attractive home for big business, with Grade A office space as standard, plus space for both production and distribution operations under one roof.”

Moreover, MRO firm Caerdav is to open a third line of maintenance at its St Athan base, alongside making significant investment in expanding its in-house capabilities.

Following extensive remodelling of one of the company’s two hangars to house an additional Boeing 737 or Airbus A320, the new third line will increase Caerdav’s maintenance capacity by 50%. Set to officially open later in the year, available slots are already booking up and the company is currently recruiting around 50 new technical staff to support the additional work.

Chris Coleman, managing director at Caerdav said: “The opening of a third line is an important milestone in the evolution of the business and is the latest stage of a structured growth strategy we’ve been implementing over the past few years.

“With the likes of Ryanair now returning to us year on year, we wanted to increase capacity to facilitate the additional aircraft that work entails. It’s a chance for us to showcase our ambition to become a leading independent MRO in the global market.”

Alongside the third line, Caerdav has also made significant investment in its back shop capabilities and workshop space, helping to support a wider range of maintenance activities that can now be carried out on-site.

The newly expanded scope of maintenance capabilities allows Caerdav to perform most associated checks in house, helping to improve efficiencies and decrease turnaround times for customer aircraft.

Mr Coleman said: “To support the third line, improved back shop facilities and additional maintenance capabilities, we operate an improved seven-day shift structure that means the business is now operational seven days a week – it’s a hugely exciting time for the company."

As part of its continued evolution, Caerdav also launched a dedicated line maintenance station at Cardiff Airport in May. The business now employs around 180 with plans to recruit a further 50 more staff by the end of the year. The company is also supporting 24 apprentice aerospace engineers, with a new intake due in September.

The business is chaired by Bruce Dickinson, who is also the lead singer of rock band Iron Maiden.