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Eversheds Sutherland advise Elaghmore on the acquisition of Formaplex

  • United Kingdom
  • Corporate
  • Deal alert
  • Mergers and acquisitions
  • Automotive
  • Industrial engineering

08-02-2021

Eversheds Sutherland have advised private equity firm Elaghmore on the acquisition of Formaplex, a leading integrated manufacturer and supplier of lightweight component solutions to the global automotive, motorsport, aerospace, medical and defence markets.

Formaplex was established twenty-years ago and started life as a specialist tooling partner for the F1 motorsport sector before expanding into injection mould tooling and moulding.

This is our first acquisition for Elaghmore and the second investment from their 1A Fund. Elaghmore, who are based in the Midlands, seek companies from across multiple sectors who show key attributes such as leadership and uniqueness.

Following the transaction Formaplex will be led by its current chief executive Mike Bryant.

Jon Rawlings, investment director at Elaghmore who led on the transaction, said:

"Formaplex has developed a global reputation for high-quality, precision engineering. We believe it has significant potential for continued growth in all sectors it services.

"More and more businesses across the automotive, motorsport, aerospace and defence sectors are looking for lightweight solutions to replace traditional component materials to increase efficiency and lessen their environmental impact. We look forward to being part of this growth by providing Mike and the team with financial and operational support."

Richard Kyle said:

“We were delighted to support Jon and the team at Elaghmore on this transaction and very much look forward to supporting Elaghmore and Formaplex going forward.”

Our team was led by Corporate Partner Richard Kyle with support provided by Corporate Associate Theo Watkins. Further assistance was also provided by Banking Partner Chris Hastings, Banking Associate Lisa Boyle, Commercial Principal Associate Lisa Highet and Associate Ally Emery, Tax Principal Associate Helen Mackey, Employment Legal Director Amanda Smith, Real Estate Partner Sama Bhachu and Real Estate Associate Rachel Duffy.


New deal from the Corporate team

Eversheds Sutherland advise Elaghmore on the acquisition of Formaplex

February 2021

 

 

Eversheds Sutherland have advised private equity firm Elaghmore on the acquisition of Formaplex, a leading integrated manufacturer and supplier of lightweight component solutions to the global automotive, motorsport, aerospace, medical and defence markets.

Formaplex was established twenty-years ago and started life as a specialist tooling partner for the F1 motorsport sector before expanding into injection mould tooling and moulding.

This is our first acquisition for Elaghmore and the second investment from their 1A Fund. Elaghmore, who are based in the Midlands, seek companies from across multiple sectors who show key attributes such as leadership and uniqueness.

Following the transaction Formaplex will be led by its current chief executive Mike Bryant.

Jon Rawlings, investment director at Elaghmore who led on the transaction, said:

"Formaplex has developed a global reputation for high-quality, precision engineering. We believe it has significant potential for continued growth in all sectors it services.

"More and more businesses across the automotive, motorsport, aerospace and defence sectors are looking for lightweight solutions to replace traditional component materials to increase efficiency and lessen their environmental impact. We look forward to being part of this growth by providing Mike and the team with financial and operational support."

Our team was led by Corporate Partner Richard Kyle with support provided by Corporate Associate Theo Watkins. Further assistance was also provided by Banking Partner Chris Hastings, Banking Associate Lisa Boyle, Commercial Principal Associate Lisa Highet and Associate Ally Emery, Tax Principal Associate Helen Mackey, Employment Legal Director Amanda Smith, Real Estate Partner Sama Bhachu and Real Estate Associate Rachel Duffy.

Richard Kyle, Partner

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