2Excel Group completes refinancing

2Excel Boeing 737

2 February 2021 – 2Excel has completed a refinancing with the backing of new financial partner Signal Capital Partners. The announcement comes as 2Excel prepares to mark its 15th anniversary of operations in May 2021.

Having been created as the world’s only commercial aerobatic airline, 2Excel has rapidly expanded into providing contract-air services for the UK Government, the oil and defence industries as well as VIP charter flights and complex aerospace engineering.

As a result, the business has grown from just five people and four aircraft at launch to today’s 200 plus employees and 28 aeroplanes. 2Excel is one of the UK’s leading, cutting-edge aerospace engineering companies and special mission operators. It boasts the breadth of capabilities of much larger organisations while retaining the agility and costs of a small to medium-sized enterprise.

2Excel’s co-founders, Andy Offer and Chris Norton, said: “We begin 2021 with extremely solid foundations and with a plethora of opportunities. Signal Capital Partners are the right partner for us and this agreement will super-charge our growth, allowing us to make the most of these opportunities.

“While the coronavirus pandemic has undoubtedly affected some of our business lines, our policy of diversification provides resilience in unforeseen circumstances and has allowed us to survive and thrive even through this crisis. 2Excel remains uniquely positioned thanks to our suite of approvals, our credibility with the Regulator and our control of our third-party risks. Our workforce has pulled together to deliver our operational plans and, through that collective and cohesive effort, this financial success. We look forward to the future in partnership with Signal.”

Anuj Chande at Grant Thornton advised 2Excel on the deal.