BWA reverses for flotation

Aircraft operating and maintenance company British World Aviation reversed into quoted clothes distributor Castle Mill International last week. The £9.8m all-paper deal will give the BWA vendors 70% of the new company, with existing shareholders owning 25.2%. It was approved by Castle Mill shareholders last week. The move onto the stock market means that BWA […]

Aircraft operating and maintenance company British World Aviation reversed into quoted clothes distributor Castle Mill International last week.

The £9.8m all-paper deal will give the BWA vendors 70% of the new company, with existing shareholders owning 25.2%. It was approved by Castle Mill shareholders last week.

The move onto the stock market means that BWA will have better opportunities to grow acquisitively.

Last year it made a £1.5m profit on a £34.36m turnover.