OPINION
Meet the Leader – David Stanley
17 Nov 2023
Founded in the 1950s, ELE Advanced Technologies (ELE) is one of the manufacturers quietly helping the UK to retain its reputation for first-class engineering. “Manufacturing is far from dead,” says CEO David Stanley. “As a nation, we are really good at it, and 80% of the products we make at ELE are exported.”
It creates highly complex parts for various sectors including aerospace and power generation such as rotative turbine blades, including components for the most advanced jets; “Some holes are as fine as a human hair, and are invisible to the naked eye,” he reveals.
David joined ELE as Finance Director in 2016, when the business employed 99 staff, and in October 2019 David and his team chose to partner with LDC. We backed a secondary buyout of the business and have since helped the management team to accelerate organic growth and invest in infrastructure to meet the increasing global demands for ELE’s products.
Over the last five years, the business has diversified into new sectors and revenue streams, built a new state-of-the-art manufacturing facility to increase capacity and pursued its ESG agenda. Today it employs over 200 staff in the UK and Slovakia and generates revenues of £25m.
Here, we speak to David to understand his experience of partnering with a private equity investor to support the company’s growth journey.
The big consideration for us was finding an investment partner who offered more than just money. What impressed us about LDC was their understanding of our sector dynamics.”
Why did you choose LDC?
I hadn’t worked with a private equity investor before so my ‘inexperience’ in this sense was useful. I had a perception that the industry was full of short termism – investors who wanted to enhance value and then exit in a short space of time. We met several trade buyers and private equity houses, and LDC really stood out as being a bit different. They have a mature approach and there is no defined timeline to the length of our partnership, which is much more flexible.
How did LDC help you meet your growth goals?
The sector expertise was crucial. LDC’s Chris Handy is ex Rolls Royce and he sat on our board for a time. We have trebled our top line and expanded into new sectors – and segments within sectors – and we couldn’t have done that without LDC’s investment and support.
What was the most important consideration when fundraising?
Top of the list was the support, beyond just money. What impressed us about LDC was their understanding of our dynamics. We make safety critical components, so there can be a significant delay between winning a contract and payback. They get that.
