WFEL, the defence engineering group backed by UK mid-market private equity house Dunedin in 2006, has secured a GBP18m order from the US Department of Defense to supply a further tranch
WFEL, the defence engineering group backed by UK mid-market private equity house Dunedin in 2006, has secured a GBP18m order from the US Department of Defense to supply a further tranche of its military bridging systems.
The order – an option under a long-term contract secured in 2000 – includes the supply of eight M18 Dry Support Bridges and associated support services for delivery over the next three years. To date, the US has ordered a total of 85 units under the contract, worth a total value in excess of USD350m, and has options to order a further 43 before 2016.
The DSB is part of WFEL’s suite of bridges, which are used by militaries in conflict zones and areas struck by natural disasters. Deployed by eight soldiers in just 90 minutes, it can span a 46 metre gap and support loads of more than 110 tonnes.
Dunedin invested GBP21m in the GBP48m management buyout of WFEL in December 2006, taking a majority stake in the business.
Dougal Bennett, director at Dunedin, who led the original deal, says: ‘Since Dunedin’s original investment in December 2006, we have seen substantial growth in sales, employment and opportunities open to the business. We have worked closely with the management team to create value and drive sales into new markets around the world. The new contracts have allowed the Company to increase its manufacturing workforce by 60 per cent to 128 people, a rare manufacturing success story in the current environment. WFEL’s development, engineering and manufacturing resources are state of the art which supports its strong track record of specialist expertise, innovation and engineering excellence.’
The firm’s support services division is currently negotiating a separate contract with the US to refurbish existing DSBs and Medium Girder Bridges used in Iraq, and is bidding for a five-year contract with the UK Ministry of Defence to inspect and repair MGBs and Air Portable Ferry Bridges.
