Oaklins Smith & Williamson advises on sale of Gloucester-based Permali

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Oaklins Smith & Williamson has advised advanced material solutions supplier Permali Gloucester Limited on its conditional sale to Diamorph (subject to regulatory approval).

Permali is a designer and manufacturer of composite and thermoplastic polyurethane (TPU) material solutions. It serves global manufacturers and Government organisations across a wide range of sectors including defence, aerospace, Formula One, medical and rail, supplying bespoke and highly technical products for often mission critical applications.

Diamorph, based in Manchester, 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.

Managing director 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 aerospace and defence 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 said: “We are delighted to have supported Permali. This transaction highlights our deep sector knowledge and technical skills to resolve difficult issues.”