Our History
The company is privately owned and the shares in the trading companies are held by 125 individual investors. The investors originally invested in 2015 and again in 2016 through an approved Enterprise Investment Scheme (EIS). The EIS investment allowed the purchase of FGP Systems Limited and via a second investment vehicle, Heartland Engineering Limited, also acquired Ramp Surface Coating Limited (Ramp).
Heartland was subsequently acquired by Fundamental in 2020 allowing the formation of a single entity that holds the shares of the trading companies. The shareholders are represented on the board of Fundamental by two of the shareholders who as well as providing the necessary governance of the holding company, oversee the well being of the trading companies and are also responsible for maintaining investor relationships.
FGP Group Limited
The Mission
- Ensuring best in class quality and service
- Efficiently operating from two sites we are proud to show to customers, producing market leading financial returns
- Delivering a wider range of products and services than competitors
- Developing an enviable list of key customers
- Commitment to rapid turn around times
- Reputation enhanced through accreditations including Airbus
Where Are We Now
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Financial Performance
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Unaudited EBITDA was £3.8m for FY20 -
Over the past three years the business has developed financial performance through process improvements and also maximising the benefits from investment -
Gross Margin % demonstrates the effectiveness of the operational performance which delivers c.45% returns -
It operates with a lean central structure which maximises operating profit performance at c.14%
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People
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FGP Group has 210 personnel with 155 operating in Production -
The business has implemented programmes to improve leadership and effectiveness which should improve the business at managerial levels -
A training academy has been invested in for apprentices which is very successful in developing future FGP engineering talent -
ROATP Comprehensive Apprentice training Provider
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Investment
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A programme of increased investment has been implemented over the last two years which has helped to elevate financial performance -
This is at a higher level than many of FGPs competitors and has helped to set the business apart from the rest of the sector -
Further investment will be made to enable FGP to continue to operate at the forefront
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Quality & Reputation
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The business has continued to build its reputation for quality and has invested in high spec 5 axis machines to deliver complex products for customers -
This allows the business to carry a price premium against other competitors which boosts performance
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Challenges
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Has developed a successful business in RSC with plans to redevelop existing space -
Business has developed competitive advantage through investment and this will continue to further differentiate itself
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Markers of Potential Future Value
Ideal vision of the structure and performance of FGP to maximise shareholder value…
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Business IntegrationFurther integration of the businesses to provide a greater breadth of processes to customers gaining increasing share of wallet. FGP Group to benefit from the integration in terms of operational effectiveness.
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Financial PerformanceEstablish position as UK’s leading specialist manufacturing business for the Aerospace industry. Not necessarily the largest business, but delivering market leading margins based on operational excellence.
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Reputation with CustomersContinue to enhance reputation with industry leading levels of customer service. Focus on process efficiency to reduce delivery times and fast track capabilities.
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Position Vs CompetitorsContinued investment to enable FGP Group to outclass competitors and justifying price premium. Already one of a limited set of specialist manufacturers, FGP would seek to actively target new customers with alternative sales strategy.
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The Second StoryPositioning FGP as an extremely strong and high performing business; an Aerospace manufacturing centre of excellence. A new investor gains a substantial platform to expand into adjacent markets and fully exploit new products and services.
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AccreditationsEnhance reputation and compete in broader markets through acquisition of an Airbus licence. In addition, could establish alternative high value services (eg R&O) with EASA145 accreditation and attract further business with SC2.
