The company supplies high-integrity, open-die forged components to the aerospace, nuclear, power generation, marine, and oil and gas sectors, for customers such as Rolls-Royce PLC, GE Aviation, Safran, BAE Systems, Siemens, Baker Hughes and Babcock International.
IFA’s turnover has grown from £2.3 million in 2001, when the company was bought by its management team, and has the potential to grow much further. The business exports to more than 15 countries across Europe, Asia and North America, and employs over 150 people. However, to fulfil its growth ambitions, AFI needs to invest in both its capability and capacity. In 2018, the company received an £8.5 million capital investment from BGF and will now work with SiG to focus on leadership, culture and operational capability.
Says IFA CEO Andy McGuinness: “Our growth plans mean we must secure higher volume, long-term agreements in aerospace. This is an extremely price-sensitive market, so we require significant investment in capital equipment, and we need SiG’s specialist expertise to help raise our competitiveness. Otherwise, those long-term contracts will go to multi-national competitors with greater resources and financial backing.”
IFA’s strategy is to maintain its agility and customer responsiveness, while moving to a model of operational excellence, based on efficient, reliable and repeatable quality, as well as delivery and cost performance. This step change will include communication of the company’s new strategy: to engage the whole organisation towards a common goal; improve and integrate business development, new product introduction and cost modelling systems; implement a scalable production planning and control process; and review supply chain systems.
Says SiG CEO Andy Page: “I’m delighted to welcome IFA to our SiG programme. IFA recognises that a multi-faceted approach is needed to secure real growth in high-value manufacturing. Companies need access to capital and finance, and investment in technology and innovation. They also need the skills and capability to operate productively and competitively.
“Our organisation applies more than 2,000 years of industry expertise to help companies like IFA develop their skills and capability,” adds Page. “We’ve now supported over 60 beneficiaries to secure more than £4 billion in contracts two years ahead of schedule. This is equivalent to over 7,000 jobs, so we are well on target to safeguard 10,000 UK jobs by 2020. Our programme is effective because it has unique scope and scale, commensurate with the challenge of helping programme participants to win a larger share of the global aerospace market.”
A not-for-profit organisation, SiG is supported by the Regional Growth Fund and by more than £150 million in private investment. Over 60 companies, with some 10,000 employees, have benefitted from the programme across the UK. Each company participates in a bespoke and intense training and business transformation programme delivered by SiG’s 100-strong team of business coaches, as well as a bank of world-leading experts that includes the University of Cambridge’s Institute for Manufacturing, Deloitte, Industry Forum and the National Physical Laboratory.
