Forging a bridge: RC Fornax brings together defence buyers and smaller suppliers (Image: RC Fornax)
With radical engineering solutions that improve performance and accelerate outcomes, British defence supplier RC Fornax (AIM:RCFX) is cutting through in a sector contending with major geopolitical tensions and procurement hurdles.
Most recently, it’s been selected by leading producer Thales UK to join a specialist group providing engineering packages for ships’ underwater operations and vessel designs, known as sonar and naval architecture. Now, through a mix of new work and extensions, the Bristol-based company, which has a team of 69, is forecasting £5.1m in sales this year, with demand spurred by a national shift to autonomous warfare and Government commitments to increase the involvement of small and medium-sized enterprises (SMEs) in defence programmes.
Focus on outcomes: chief executive Paul Reeves (Image: RC Fornax)
Founded six years ago by Royal Air Force veterans Paul Reeves and Daniel Clark, RC Fornax serves as an SME integrator, bridging the defence buying community and smaller suppliers.
But it’s the clear, compliant Statement of Work model and the bespoke technology it has developed that are the big differentiators.
“We’re challenging traditional ways by managing projects from inception to delivery using tailored project teams from a community of over 3,000 engineers with a heavy focus on systems, software and hardware engineering,” chief executive Reeves explains. “We operate as a trusted partner rather than a transactional supplier.
“Our model allows us to take full accountability for delivery, helping clients reduce programme risk and speed up timelines across complex environments. Organisations can overcome capacity and capability challenges because of the flexible approach. We can rapidly deploy specialist teams aligned to specific requirements.
“By integrating smaller businesses into a single delivery model, this cuts down procurement complexity for them, shortens supply chains and increases participation in defence programmes.”
Free to SMEs, big clients can subscribe to the service. Among the digital tools are SME Procure, charting what’s needed, be that a design or a team, enabling faster matching of capability to demand and more efficient execution. SmartScope sets out work to do, breaking down larger projects and best-placed suppliers.
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Further applications for the tech are now emerging, with RC Fornax gaining two UK space industry clients, one clearing up extra-terrestrial debris, and another in the nuclear sector.
The growth potential drove the business to list on the London Stock Exchange’s secondary Alternative Investment Market last year, raising £3.4m.
“AIM has been an important milestone,” notes Reeves. “We now have a broader shareholder base supporting our ambition to scale.”
Encouraged by the Government’s Defence Investment Plan statement and the ramp up on drones, “we will be looking to engage the manufacturers supporting upcoming requirements and understanding how that can be added to our existing sales strategy,” he adds.
“Defence readiness and UK foundational security are priorities. Across land, sea and air we’re here to advance that so we all get more out of everything.”