Acro Aircraft Seating is preparing to enter a new period of growth, having received a UK£7.75m growth capital investment from BGF (Business Growth Fund), a UK-based investment firm.
According to the partners (BGF has taken a minority shareholding in Acro and a seat on the board), BGF’s capital will be used to accelerate Acro’s product developments, with a ‘Series 8’ long-range economy seat now included in Acro’s plans.
Chris Brady, chief executive at Acro commented, “We’ve worked hard to grow Acro and by investing every scrap we’ve made in our staff, products and infrastructure, we have managed to double the size of the business every year for the past four years, but we still have ambitious plans. Our partnership with BGF will allow us to bring those plans to life, which is hugely exciting.”
Acro has grown rapidly in the global aircraft seating market, and in 2015 the company has delivered more than 25,000 seats, including seats for more than 120 aircraft in North America, flying for Spirit, Frontier, Hawaiian and Allegiant.