Acquisition of CAV Aerospace

BETTER CAPITAL PCC LIMITED 2012 Cell

20 March 2015

Better Capital PCC Limited is pleased to announce that it has been advised by the General Partner of BECAP12 Fund LP (the "2012 Fund") of the acquisition of the entire issued share capital of CAV Aerospace Limited ("CAV") from an overseas holding company.

CAV is a specialist aerospace manufacturing business, which supplies complex metallic components and sub-assemblies to several major original equipment manufacturers including Airbus, Embraer and Gulfstream. The company operates from seven sites - four in the UK, two in Poland and one in Mexico.

It is a business that Better Capital has been tracking for several years and operates in a growing market which is expected to continue to perform well. Historically CAV has received a good level of investment; however, it will benefit significantly from strengthened operational support. CAV operates in the same sector as the 2009 Fund's investment in Gardner Aerospace. For the avoidance of doubt, these two investments will be run independently from each other, specifically, the ownership of both entities is held by separate funds and the businesses will be managed by separate teams.

The audited revenue for the year to 31 December 2013 was £74 million, with the business operating close to breakeven.

The 2012 Fund has committed an initial £40 million to fund the acquisition, to provide working capital funding and to invest in CAV's future growth. There may be future opportunities to grow the company through bolt-on acquisitions.

Following the CAV acquisition, the 2012 Fund currently has cash of £48 million largely available for investment into other platform or follow-on investments.

Enquiries:

Better Capital PCC Limited +44 (0) 1481 716 000

Mark Huntley (Administrator and Company Secretary)

Better Capital LLP +44 (0) 20 7440 0840

Mark Aldridge (CEO)

Rob Asplin (Managing Director)

Bonnie Kraus (Investor Relations)

Powerscourt +44 (0) 20 7549 0999

Justin Griffiths