Published: Thu, 01 Jul 2021 13:23 GMT
Permali Gloucester Limited (“Permali”) is a leading designer and manufacturer of composite and thermoplastic polyurethane (“TPU”) material solutions. It serves global OEMs and Government organisations across a wide range of sectors including Defence, Aerospace, Formula One (“F1”), Medical, and Rail, supplying bespoke and highly technical products for often mission critical applications.
Diamorph provides material solutions under a range of brands for highly demanding environments and is backed by Epiris, an independent private equity firm. The addition of Permali’s strong positions in Defence, Medical and F1 to the Diamorph Wear Components Business Unit, with the two businesses adjacent technology bases, will strengthen the Group and create a significant UK player in laminate-based composite materials.
Gus King, with support from private equity firm 3i Group, led the 1988 buy-out of Permali. Oaklins Smith & Williamson worked with the shareholders to deliver a successful sale to Diamorph, a strategic partner that can use Permali’s Gloucester base as the centre of excellence for developing and growing its enlarged composites offering.
Philip Barker, Head of Industrials at Oaklins Smith & Williamson, led the transaction supported by Brian Livingston and Joseph Sherry, with further support from Oaklins’ Aerospace and Defence experts Stephen Perry and Jason Kimball.
Gus King said “As a shareholder group, we found the advice and support that the Oaklins team provided crucial in achieving a successful transaction. Their strong track record in both the A&D and Industrials sectors and ability to anticipate and overcome a wide range of challenges during the sale process were important factors in delivering a positive outcome for the shareholders”.
Philip Barker, Head of Industrials at Oaklins Smith & Williamson said “We are delighted to have supported Permali. This transaction highlights our deep sector knowledge and technical skills to resolve difficult issues”.
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By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. This briefing does not constitute advice nor a recommendation relating to the acquisition or disposal of investments. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication.
Notes to editors
Notes to editors
Smith & Williamson is a leading financial and professional services firm providing a comprehensive range of investment management, tax, financial advisory and accountancy services to private clients and their business interests. The firm’s c1,800 people operate from a network of 11 offices: London, Belfast, Birmingham, Bristol, Dublin (City and Sandyford), Glasgow, Guildford, Jersey, Salisbury and Southampton. Smith & Williamson is part of The Tilney Smith & Williamson Group.