3i has increased its stake in AES Engineering to 40 per cent, valuing the business at £100 million. This secondary investment comes 11 years after 3i’s first and will allow AES to continue its growth and consider acquisition opportunities.

3i has increased its stake in AES Engineering to 40 per cent, valuing the business at £100 million. This secondary investment comes 11 years after 3i’s first and will allow AES to continue its growth and consider acquisition opportunities.

Founded in 1979 by Chris Rea, AES is the holding company of the AESSEAL Group, an active player in the mechanical sealing industry.

Rea, who is also chief executive officer and majority shareholder, commented: “3i has been a fantastic partner, so the board of AES is extremely happy that they will help us with the next stage of our development.”

Gordon Hague of 3i added: “I’m delighted that 3i is able to provide significant further investment to help the company achieve its growth potential.”