Better Capital, the turnaround investor led by venture capitalist Jon Moulton, has completed its disposal of Gardner Aerospace, which supplies the likes of Rolls-Royce and Airbus.

Ligeance Investments, a subsidiary of Chinese group Shaanxi Ligeance Mineral Resources (SLMR), agreed to buy Gardner Aerospace for an enterprise value of 326m in April 2017.

Better Capital's BECAP Fund acquired Gardner in 2010 after it failed to secure investment to fund ongoing losses. Under the firm's ownership, the components supplier has boosted turnover to 132m.

Richard Crowder, chairman of Better Capital, said: "On behalf of Better Capital, I would like to record my appreciation to all at Gardner for their contribution to this great success, and I wish Gardner and its new owner every success in its next phase of growth."

Gardner Aerospace is headquartered in Derby and has facilities in Hull, Basildon, Pershore in Worcestershire and Broughton in Flintshire. It also has sites in France, Poland and India.

SLMR is listed on the Shenzhen Stock Exchange. The acquisition will bolster its presence in Europe, as well as its offering in the aerospace and industrial gas turbine sectors.

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Better Capital completes 326m Gardner Aerospace sale - Insider Media