Chesterfield, UK - TMAT Ltd, a manufacturer of acoustic components for tractors and excavators, says its investor Advent Partners LLP is looking to divest its interests in the company now that it is turning over between £10-£15 million ($15.5-23 million) a year.
Advent provides working capital for Midlands, UK-based manufacturing small-and-medium enterprises (SMEs). The private investment firm said it believes that, having played a key role in bringing TMAT to an exciting point in its development, it is time to match the business with a larger group" that can help accelerate TMAT to fulfil its vast potential on the global market".
Andrew Ramsbottom, a partner at Advent, said: "The time is right for a larger group with significant capital to come in and give TMAT and MD Jason Lippitt the support to drive it forward into the global market."
He added, "TMAT couldn't be in a better position for an ambitious investor to do just that, with sales and enquiries far exceeding what we had anticipated and exciting plans to reach out into wider, global markets on the minds of everyone here."
TMAT engineers solutions to noise, vibration and harshness for agricultural, construction, and earthmoving markets, including the STW 100 polyurethane system used to create a honeycomb-shaped elastomer floormat.
