CT Automotive

Finvos advises CT Automotive Group PLC, a leading designer, developer and supplier of interior components to the global automotive industry, on its admission to trading on London's AIM market and a successful placing (conducted by Liberum) raising gross proceeds of approximately £33.6 million.

Shares in the company were admitted to trading on AIM on 23 December 2021, with a market capitalisation of approximately £75 million for CT Automotive.

Portsmouth, UK-based CT Automotive specialises in making bespoke interior components – such as arm rests and dashboard panels – via its low-cost international manufacturing footprint, with key production facilities in the UK, China, Turkey and the Czech Republic as well as distribution capabilities across Europe, the US and Japan.

Founded in 2000 by Executive Chair Simon Phillips, CT Automotive has built a high-quality roster of original equipment manufacturers (OEMS), end customers, both directly and via Tier One suppliers. End customers include volume vehicle manufacturers, such as Nissan, and luxury car brands such as Bentley and Lamborghini and electric car manufacturers, including Lucid.

The company currently supplies component part types to over 45 different models for 17 OEMs and delivered over four million systems in the 12 months to 31 December 2020.

CT Automotive intends to use the net proceeds to reduce the group's debt and unlock free cash flow to support the next phase of growth, including enlarging its facilities in Europe and North America, taking on an increased number of new programmes, increasing R&D expenditure and entering more strategic partnerships.