Pictured: Martin Cordey

Lloyds Bank Corporate Markets will fund Bridgepoint Development Capital's ("BDC") $84 million acquisition of four businesses within Hampson Industries' Aerospace Components & Structures division. The transaction is subject to standard regulatory clearances.

The bank's Birmingham-based Acquisition Finance team, including directors Martin Cordey and Andy Taylor, will act as sole mandated lead arranger in providing a package of senior debt to support the deal.

The transaction will represent the Midlands team's third in the aerospace sector in just over a year, having funded the LDC-backed management buyout (MBO) of AIM Aviation, and the acquisition of Farsound Engineering by an equity syndicate led by Rubicon Partners and Grovepoint Capital.

The four businesses within Hampson Industries' Aerospace Components & Structures division are: Lamsco and Bolsan in the US, and Attewell and PSG in the UK - and operate on a standalone basis within Hampson Industries plc.

The companies combined are the global leader in the manufacture and supply of shim components to the commercial and military aerospace markets and, in the year to 31 March 2011, they had revenues of $44 million. Following the transaction, the businesses will be re-named 'Shimtech Industries'.

Shims are solid, laminated or hybrid components, used at key load-bearing points on an aircraft, such as the wings, tail and engine, to fit precision engineered parts into position. Laminated shims are made up of fine layers of peelable material - allowing the precise thickness to be adjusted at the point of installation - while hybrid varieties are laminated sheets attached to a solid base. The majority are made to measure, with producers working closely with aircraft manufacturers at the design stage to produce a set of shims for a particular plane.

Shimtech also produces a range of standard, high-performance non-metallic seals and gaskets for industrial applications, as well as providing integrated supply chain and logistics solutions.

BDC has appointed Clive Snowdon as executive chairman of the business. A veteran of the aerospace industry, he led the development of Umeco plc over 14 years, taking company revenues from £20 million to £450 million.

Supported by BDC and Lloyds Bank Corporate Markets, Shimtech's growth strategy will include further expanding and developing its product range to meet the needs of the next generation of aircraft, and identifying opportunities to provide greater geographic flexibility to its global customer base.

Martin Cordey, Director at Lloyds Bank Corporate Markets Acquisition Finance, said: "At present, there is notable demand from airlines to renew their fleets while, concurrently, manufacturers are increasingly using lightweight composite materials.

"Shimtech has developed a strong, global proposition for its highly advanced components and, following this investment from BDC and our support, is well placed to benefit from growth in the commercial aerospace sector to realise its expansion plans.

"The transaction has allowed us to work with a highly regarded European sponsor in BDC and an experienced sector management team."

A team from the Birmingham office of DLA Piper, led by Partners Brian Woolcock and Stephen Bottley, provided legal advice to the Acquisition Finance team at Lloyds Bank Corporate Markets.