Aegina’s leadership transition backed by Compass Finance

Aegina Technologies Ltd is a precision engineering company based in Havant, near Portsmouth, specialising in the subcontract manufacture of components and assemblies to a wide range of industries, including aerospace, oil and gas, and subsea. Under the stewardship of founders Charlie Ralph and Jennifer Copping, Aegina grew steadily from an £800,000 turnover into a £3.2 million enterprise. The company’s vision, combined technical expertise with a strong commitment to customer service, built a foundation that allowed Aegina to become a respected name in subcontract manufacturing.

Now in their 70s, the owners completed a second management buyout at the end of October 2024 – this time passing the business to trusted long-term employees Sales Manager Mick Chalk and Production Control Manager Ieva Kapteine. Compass Business Finance helped raise capital for the MBO through a blend of asset-based lending, including the refinancing of existing equipment, alongside a new invoice finance (IF) agreement with NatWest bank. The MBO echoed the original buyout that launched the company and ensures continuity of values, culture and operational expertise.

“Our dreams have been made realised,” says Ieva, now Operations Director. “This pivotal move was made possible through the financial support and guidance of Compass Business Finance, in collaboration with Aegina’s long-standing banking partner. Compass’s expertise in structuring tailored funding packages, such as asset-based lending, was instrumental in facilitating the MBO. Working closely with Allan Robinson, we found the process to be seamless. Allan’s clear explanations and supportive guidance were invaluable during the transition, ensuring that the financial aspects of the MBO were addressed effectively.”

She continues: “It was quite scary at first with all the financial implications, but Compass made the situation so much easier for us and got the deal through. Every step of the way was explained without any jargon. Allan and the Compass team made the process so simple because – we could rely on what was being said and done. It meant we could concentrate on developing and building the business without having to worry about the finance.”

The MBO completion was at the end of October 2024.

“For the first three months we didn’t tell staff or our customers,” says Ieva. “It’s not that we had anything to hide, but when we made the announcement, we wanted people to know we’d been running the business successfully ourselves and things were going well.”

Mick, who originally started with the company as a machine operator in 1989, moved into planning and estimating 16 years later, and then into sales.

“It was quite scary because of the financial implications,” he says. “It seemed a huge deal because of the responsibility, not just in a financial sense, but the fact that you have nearly 30 people working for you whose job security and providing for their families is effectively in your hands. We have an incredible workforce who are so committed and loyal. Hardly anybody leaves, except when they eventually retire.”

Aegina made a small profit in December – traditionally a month where there is a small loss. And since January, orders have gone through the roof.

“We have been exceeding the intake plan; things are really going well,” says Ieva. “We had a six-month review, and all the accountants and advisers have been saying how well we were doing. We have a great team. The secret is making improvements and not upsetting the cartwheel. Make slow but consistent change.”

Mike and Ieva have now started attending occasional outside forums and seminars as part of the strategy for a next stage of growth.

“Aegina’s legacy of quality, commitment and internal development remain firmly at its core,” says Ieva. “Defence is one of the markets we will be targeting for the next chapter for our company while continuing to serve and grow existing clients with precision and reliability.”

The new owners’ complementary strengths – Mick’s technical sales acumen and Ieva’s operational and regulatory leadership – will no doubt ensure Aegina’s successful future.