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Macdonald Henderson advises UKSE on investment in Martin Aerospace - Click for larger version Macdonald Henderson advises UKSE on investment in Martin Aerospace

An engineering firm which saw its business take off following a change of focus and rebranding exercise has received £100,000 from UK Steel Enterprise (UKSE).

Lanark-based Martin Aerospace will create jobs and buy state-of-the-art equipment with the loan finance from UKSE.
Martin Aerospace was created out of GT Martin & Sons Engineering in 2005, marking a clear move away from the firm’s broad production work for the oil, steelmaking and aerospace industries towards specialising in the manufacture and assembly of aircraft engines, mainly for Rolls Royce.
UKSE is the Tata Steel subsidiary set up to help growing companies operating in steel areas realise their full potential, boost the local economy and create jobs. It has ploughed a total of £300,000 into the company since it was first established by the Martin family in 1993 and is now an equity shareholder in its modern incarnation.
Anne Clyde, area manager of UK Steel Enterprise, said: “Martin Aerospace is a perfect example of what can be achieved when an outdated business model is thoroughly analysed to identify strengths and opportunities for a new, more focused operation.
“We’ve worked with the firm since the outset and it’s great to see business thriving and Martin Aerospace offering solid job prospects within Lanarkshire.
“There is a very low labour turnover and a strong drive to promote staff internally – the current Head of Production Control actually started with the company as an apprentice 10 years ago – and that’s exactly the type of business we are dedicated to supporting.”
Martin Aerospace has remained profitable and continued to grow over the past seven years and has become a strategic supplier for both Rolls Royce and Patonair. With an order book amounting to £8m and long-term supply agreements in place, Martin Aerospace will use the latest instalment of steel cash to create 11 new jobs and extend its arsenal of machinery.
Corporate solicitors Macdonald Henderson advised UKSE on the investment, which was completed within a fortnight of agreement of final terms.
Martin Aerospace has already begun recruiting new members for the team, which currently consists of 65 full-time members of staff. The firm’s annual intake of apprentices is set to rise to four, with two already having been recruited and enrolled at a South Lanarkshire training facility.
Martin Aerospace will spend £XXXX on new machinery for the plant to ensure the firm can continue to fulfil the orders for its growing client base.
William Martin, managing director of Martin Aerospace, said: “Our renewed focus on civil aerospace over the last seven years has completely transformed the business and I have no doubt we are now concentrating on absolutely the right market.
“The current boom, especially in the Far East, offers a perfect opportunity for Martin Aerospace to grow and offer its specialist expertise further across the sector and the continued support from UK Steel Enterprise is allowing us to build on our existing resources to realise this growth.”
The aerospace manufacturer’s biggest contracts involve creating the latest generation of engines for extra wide body aircraft such as Airbus and the Boeing Dreamliner. The company is also engaged in improving engine design, working with Rolls Royce on design for manufacture (DFM) contracts.

Last updated: 3.11pm, Thursday 8th November 2012

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