Nasmyth Group, a provider of specialist precision engineering services to the aerospace, defence and related industries, has appointed a new CEO.
Tony Upton has held several senior executive roles within the aerospace and defence industry, and most recently was the CEO of Gardner Aerospace, having previously been CFO since 2018. Prior to this Tony held financial and operational roles at Eaton, UTC Aerospace Systems and Goodrich.
Nasmyth Group says his experience in the sector will be key to the next phase of its development, as the Group continues to plot a path to growth in its recovering end markets.
The Midlands-headquartered business with international operations in the US, Philippines and India achieved sales of over £80m pre-COVID but was negatively impacted by the dramatic drop in demand for passenger air transport during the pandemic. Its divisions include machining, fabrication and treatments.
It was acquired by Rcapital in February this year.
Ash Reek, operating partner at Rcapital, said: “The Board believes that Tony is the right leader to take Nasmyth Group forward as we look for growth opportunities across our portfolio of precision engineering and metal treatment businesses.”
Tony Upton added: “I am honoured that the Nasmyth Board have placed their trust in me in this incredibly exciting new chapter in the company’s growth journey.”