DEA Aviation Limited has secured growth funding worth £16.5m from Santander UK with the support of UK Export Finance, the UK’s export credit agency
Based at Retford Gamston Airport in North Nottinghamshire, DEA provides specialised aerial data acquisition services to the intelligence, surveillance & reconnaissance, search & rescue and aerial mapping sectors. It provides critical security services demanding class-leading safety and compliance processes. DEA now employs over 200 people worldwide, most of whom are highly-skilled engineers, pilots, sensor operators, systems architects and software developers operating from accredited facilities in Nottinghamshire.
The funding has been secured thanks in part to a UK Export Finance guarantee issued under its Export Development Guarantee product. This allows DEA to unlock substantial new funding and replaces existing term loans.
DEA expects to use the additional growth funding to create jobs and to increase capacity and capability investment to meet customer demand in its complex and growing end-user markets across the UK, Europe and beyond.
Joanna Allen, CFO of the DEA Group, said: “We are pleased to have been supported by Santander UK and UKEF in this refinancing as the group enters its next phase of growth. The funding recognises that DEA is a substantial exporter and will enable the company to continue to expand its services internationally where we have built a strong reputation with prestige customers in Europe and beyond.
Liz Pickering, Relationship Director at Santander UK, said: “DEA is a key provider of services in the region and we believe this is the right funding structure to enable DEA to fulfil the exciting future growth opportunities in critical sectors.”
