In October 2019 Maven sold ELE to LDC, generating a 4.4x return for investors. ELE is a leading manufacturer of precision engineering components for the industrial gas turbine, aerospace, defence and automotive markets. The business, which is based in Colne, Lancashire and has a manufacturing facility in Slovakia, specialises in non-conventional machining for both aero and land based gas turbines.
ELE is one of only a handful of companies around the globe that can perform the stem drilling operations used to cut cooling holes in hot end turbine blades, and other specialist manufacturing capabilities include electrical discharge machining (EDM), laser drilling, capillary drilling and creep feed grinding. Clients include Rolls-Royce, Safran, Siemens, GE Avio, GE Power and MAN Diesel & Turbo.
The sale of ELE is a positive strategic move for the business, enabling it to accelerate its growth plans, and has delivered a good return for investors in Maven Income and Growth. We would like to thank the ELE team for their hard work and wish the business good luck in the next stage of its development.
Mike Collis, Head of Portfolio at Maven
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