Formed in 1987 as a spin-out of a university research department, Stirling Dynamics Limited (“Stirling”) provides specialist engineering design services for commercial and defence clients in the global aerospace and marine markets. Based in Bristol, the business employs highly skilled staff focussing on active control technologies, system monitoring, simulation and modelling.
Enact’s investment in November 2014 enhanced the liquidity and capital structure of the business and facilitated a transformation of its strategic, commercial, operational and financial performance. Enact introduced Mark Cook as Executive Chairman, who had considerable experience in leading businesses involved in product development and providing consultancy services to the international defence, aerospace and security industries. Alongside the existing management team and Enact, Mark successfully developed and implemented a range of initiatives which enabled the business to continue to grow both in terms of size and profitability.
The scale of the transformation achieved culminated in the following recognitions:
- Inclusion in the Sunday Times SME Export Fast Track 100;
- Winning the BVCA’s Business Transformational Management Team of the Year 2017 in the South West and Wales;
- Winning the Insider’s Made in the South West Award 2017 in the Aerospace and Defence category; and
- Winning the Export and International Business Award 2017 at the Business Leader Awards.
The strength of the transformation meant that there were a number of parties, based in both the UK and overseas, interested in acquiring Stirling. In April 2018, Enact exited their investment, selling to Assystem Technologies (“Assystem”), a multi-national French aerospace and marine business.