It has secured investment from funds advised by Leon Capital LLP

Provider of specialist engineering services to the maritime and energy industries Avantis Group has been boosted with a major investment to support its international expansion plans.

The Cardiff-based firm has secured strategic investment from funds advised by Leon Capital LLP, the London-based European private equity investment firm.

Thomas David, chief executive, Chris David, chairman and the existing leadership team of Avantis will retain a controlling interest and operational control of the business. They took over the business in 2022 following a management buy-out that was part-funded by the Development Bank of Wales.

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The latest investment reflect confidence in Avantis Group’s market position, experienced management team, and proven ability to deliver engineering solutions in complex and mission-critical environments.

Thomas David said: “This strategic investment marks an important milestone for Avantis Group. We were deliberate in selecting a partner that understands our industries and aligns with our long-term vision. This capital strengthens our platform and enables us to pursue growth opportunities while maintaining the independence and culture that define our company. We remain grateful for the support provided by the Development Bank of Wales in funding our management buyout in 2022, which gave us the opportunity to build the foundations for this next stage of growth.”

The raised capital will be used to support organic growth initiatives, operational expansion, and strategic opportunities, including investment in staff, technical capability, and infrastructure to better serve customers across maritime and energy markets. It will also supporte expansion into digital infrastructure and defence markets.

Christos Lavidas, managing partner, and Jean-Christophe Napoleon Bonaparte, managing partner, at Leon Capital, said: “Tom and the team have built a truly differentiated specialist engineering platform, centred around client trust, as well as technical and delivery excellence. We are particularly excited to help the company grow its leadership position in green technologies and life cycle management services, as well as its further expansion into digital infrastructure and defence.”

Leon Capital was supported by its senior advisor network in making this investment, notably Henrik Madsen, former chief executive of Det Norske Veritas (DNV), Bjarte Boe, previously head of shipping finance and investment banking at SEB and current supervisory board member of CMB.TECH, and Michael Lavidas, former managing director of Alpha Gas, Pantheon Tankers and Alpha Bulkers.

Leanna Davies, portfolio development manager for the Development Bank of Wales said: “Having been part of Avantis Group’s journey, I am proud of what the business has achieved and confident in its future. This investment from Leon Capital provides strong support for the next phase of growth, and we leave the business with a successful exit knowing it is in excellent hands under the leadership team.”

The transaction was advised by Acuity Law, Reed Smith and Blake Morgan as legal advisors to the parties, and AMA Capital Partners as corporate finance advisor to Avantis Group.

The terms of the investment were not disclosed.

Discussing how automation was likely to lead to thousands of job cuts at the bank at a recent conference, Bill Winters said it wasn’t about cost cutting but “replacing, in some cases, lower value, human capital, with the financial capital and the investment capital that we’re putting in”.

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