We have advised Formaplex Holdings Limited on their sale of Formaplex Limited to UK private equity fund Elaghmore.
Established nearly 20 years ago, and with revenues in excess of £60m, Formaplex manufactures lightweight components for the global automotive, motorsport, aerospace, medical and defence markets. The company employs over 500 staff and operates from four manufacturing sites based across the south coast of England. Following the acquisition, the business will continue to be led by CEO Mike Bryant.
Founded in 2004, Leamington Spa-based private equity fund Elaghmore buys companies from entrepreneurs, founders and family owners. They aim to support management teams to double a company’s revenues within the first 3-to-5 years from investment.
The deal was led by corporate partner and head of Gateley Legal’s London office, Paul Hayward, with support from corporate associate, Zum Mohammed and colleagues in Gateley’s Banking & Finance and Real Estate teams.
Paul commented: “We are thrilled to have advised the team at Formaplex on this deal. Elaghmore’s investment will enable the company to seize opportunities for their lightweight engineering solutions.”