Adams Aviation, a UK aircraft parts distributor, has taken on new backing from private equity firm Rcapital, with the existing management team remaining in place to lead the next phase of growth. The deal follows Rcapital's carve-out acquisition of the business and gives management a funding platform to pursue its expansion plans.

Adams Aviation is headquartered in Crawley, West Sussex, and has supplied aircraft parts, spares and accessories to airlines, operators and maintenance companies since 1968. The company reported annual revenue of around 20.9 million dollars (17.9 million euros) in 2025.

Rcapital is a UK private equity firm specialising in carveout and special situations investments. It has invested in more than 100 UK mid-market companies across a range of industries, providing financial resources and commercial expertise to portfolio businesses.

FRP Advisory is one of the UK's largest independent business advisory firms, employing more than 950 people including 107 partners, and specialises in corporate restructuring and corporate finance. Its Debt Advisory team, led by partner Stuart Bates, secured the asset-based lending package supporting Rcapital's investment.

Rcapital acquired Adams Aviation Supply Company from Incora in a corporate carveout transaction, and the funding package provides Rcapital with the post-acquisition working capital platform needed to support Adams Aviation's short to medium-term strategy.

"Adams Aviation has built a strong reputation over the years of being one of Europe's leading aviation parts distributors. The strength of its management team is clear and that's why we're excited to start working with them to take the business into the next phase of its growth," said Sam Duberley, investment director at Rcapital.

"Rcapital has a strong track record of supporting management teams to develop and grow their businesses, and access to the right capital is crucial to that success. It was therefore important that the final structure of this facility gave Rcapital the flexibility to work closely with the Adams Aviation management team and pursue the right strategy for the business' growth," said Stuart Bates, partner at FRP Advisory.

For the sector, the deal reflects continued private equity appetite for aircraft parts distribution as demand across the aftermarket supply chain keeps growing.

Source: Consultancy.uk / FRP Advisory