METTIS AEROSPACE LIMITED

• ◆

  3 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

1. METTIS AEROSPACE LIMITED 2002-03-12 → present
2. H.D.A. FORGINGS LIMITED 1997-03-24 → 2002-03-12
3. INGLEBY (963) LIMITED 1996-12-16 → 1997-03-24

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Abridged

Yes — abridged accounts (limited disclosure)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Based on these considerations, the Directors believe that the Group has sufficient liquidity and financial covenant headroom to meet both the ABL and Senior Debt Covenants and expect that the Company will continue in operational existence for at least the next 12 months. For this reason, the Directors continue to adopt the going concern basis in preparing the financial statements of the Company.”

Significant events

• “During the year, the Company made significant changes to the senior management team with the appointment of Martin Whittaker (Chief Executive Officer) and Patrick Adcock (Chief Operating Officer) in May 2024 and Stephen Hammell (Chief Financial Officer) in December 2024.”
• “As part of these initiatives, the Company announced a redundancy programme in January 2025 that impacted 36 employees, largely in indirect roles, and re-aligned headcount to focus on manufacturing activities.”
• “During the year, the Group received significant financial support from its majority shareholder and senior lenders to support operations. This included an extension of the Group's Senior Facilities Agreement to December 2025 and deferral of interest payments to assist cashflow. In addition, the majority shareholder injected new equity of £11.3 million into the ultimate parent undertaking, prevailing at that time, of the Company to fund operations and maintain capital investment.”
• “Following the year-end, the Group was subject to a restructuring of its ownership and capital structure that completed on 21 August 2025 ("the Transaction"), triggered by financial covenant breaches under the senior facilities of the Group in February 2025. The Transaction resulted in a change of control of the Group, with Guggenheim Investments and Bridgepoint Group funds taking full ownership.”
• “The Transaction is expected to result in improved long-term viability and business continuity, it significantly reduces the debt obligations of the pre-existing group by approximately £42 million to £34 million and provides the Group with access to additional working capital funding.”
• “Moreover, since this was probable at year-end following the covenant breach, a provision for debt guarantee has been recognised in the amount of £4.9 million, being the amount expected to be paid out at 31 March 2025, and classified as Exceptional Costs.”
• “Following completion, the legacy entities of the pre-existing group, including Mettis Group Limited, SSCP Titan Bidco Limited, SSCP Titan Midco Limited, SSCP Titan Interco Limited and SSCP Titan Topco Limited, are to be wound-up by way of a creditor's voluntary liquidation.”
• “The Directors secured an additional financing facility of £10.0 million on 24 October 2025 from the new owners with a maturity date of 31 March 2027.”
• “In December 2025, the Directors signed a new £30.0 million asset-based lender ("ABL") agreement, for a period of 3 years, to provide a new secured facility to refinance the RCF.”
• “In March 2026, the maturity dates of the Senior Debt facility and additional financing facility were subsequently extended to 30 September 2027.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

10

last 12 months

Capital events

0

last 24 months

Officers appointed

3

last 12 months

Officers resigned

3

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +5.4%

  £90,016,000 → £94,843,000

• Cash

  -28.5%

  £9,118,000 → £6,519,000

• Net assets

  -102.7%

  £24,234,000 → -£653,000

• Employees

  +7.9%

  509 → 549

• Operating profit

  -588.7%

  -£3,127,000 → -£21,537,000

• Profit before tax

  -289.2%

  -£6,070,000 → -£23,627,000

• Wages

  +13.9%

  £20,045,000 → £22,835,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers