UK's NP Aerospace Secures Over £30 Million in Financing to Acquire Iten

en.Wedoany.com Reported - NP Aerospace, a UK-headquartered global armor manufacturer and vehicle integrator with a base in Canada, has secured over £30 million in financing from NatWest. The financing, guaranteed by UK Export Finance (UKEF), is for the acquisition of US armor manufacturer Iten Defense. On September 10, NP Aerospace completed the acquisition from Edgewater Capital Partners and other minority shareholders.

The financing package includes a £19 million trade loan and a £7.5 million term loan, supporting both the completion of the acquisition and providing additional working capital for the company's continued growth. UKEF supported the deal by guaranteeing the working capital facility, helping the company unlock additional funds to advance its international growth plans.

NP Aerospace was founded 100 years ago in Coventry, UK, and has grown into a supplier of personal protection and platform armor solutions, as well as military vehicle integration and engineering services. The company has two sites in the UK and one in London, Ontario, Canada, serving UK and international defense customers.

The acquisition of Ohio-based Iten Defense establishes a strategic foothold for NP Aerospace in the United States. It enables the company to expand its North American customer base and manufacturing capabilities, and add new products and capabilities across land, sea, and air applications.

Under the leadership of CEO James Kempston, the company expects turnover across its UK and North American operations to grow from approximately £135 million in 2026 to approximately £160 million in 2027. The deal also highlights the strength of advanced manufacturing and the defense industry in the UK and the West Midlands region.

NP Aerospace continues to develop protective technologies, including body armor solutions and vehicle protection systems, and has established long-term partnerships with defense agencies in the UK and overseas.

James Kempston said that completing this acquisition is a significant milestone for NP Aerospace as the company expands its global footprint. It strengthens its position in a key international market and enhances its ability to deliver advanced protection and engineering solutions to defense and law enforcement customers worldwide. The Coventry site provides the foundation for continued innovation, capability expansion, and long-term opportunities from the West Midlands.

Fiona Begley, Export Finance Manager at UKEF, said that the UK defense industry brings together some of the world's most innovative manufacturers and engineering companies. Supporting companies like NP Aerospace to compete internationally helps strengthen the UK, creates growth opportunities, and showcases British expertise on the global stage.

William Jones, Relationship Director at NatWest, said that the West Midlands has a proud history of advanced manufacturing and engineering, and NP Aerospace is a modern example of this heritage translating into global success. The company's growth brings innovation, investment, and high-skilled employment opportunities to the region, and NatWest supports the management team in continuing to build an international business from Coventry.

This financing demonstrates NatWest's continued support for the defense, manufacturing, and engineering sectors, helping businesses access the capital needed to pursue acquisitions, invest in growth, and compete internationally. As NP Aerospace enters its next phase of development, this acquisition provides a platform for further expansion and reinforces Coventry's reputation as a center of advanced manufacturing, engineering excellence, and innovation.