Turnaround And Cross-Border Sale Of TMAT
BUSINESS OVERVIEW
TM Acoustic Technologies is a leading European manufacturer specialising in the development and production of acoustic and thermal insulation products, including aesthetic interior and exterior trim components, engine bay systems and barrier floor mats.
TMAT supplies many leading vehicle and cabin manufacturers throughout Europe, Asia and the Americas and its markets extend across all vehicle sectors including automotive, agricultural, construction, municipal, PSV and material handling.
We are delighted to have been bought by a world-class, global investor that shares our strategy and ambition. Our business plans are so closely aligned that they could quite easily have been written by one another.
Jason Lippitt, Managing Director
OUR ROLE
Intrinsic Equity, the investment vehicle of Orbis Partners, acquired the business in 2009 from the administrator and introduced a new senior management team (Andrew Ramsbottom and David Gee) to support the existing operations director and turn the business around.
Through a combination of operational efficiency improvements, overhead savings and re-pricing of key product lines the business was stabilised and restored to profitability.
In December 2014 Orbis Partners advised on the sale of TMAT Limited to the North American group Blachford Incorporated. Blachford – a world-class, global manufacturer specialised in the ACE (agricultural, construction, earthmoving) market segment – shares the TMAT ambition for the business and its strategy.
The deal has returned a 20 times multiple on Intrinsic Equity’s original investment.
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