Chesterfield manufacturer looks for major investor
Chesterfield-based manufacturer of components for tractors and excavators, TMAT Ltd, is looking for a major new investor to drive international expansion.
The producer of acoustic parts for tractor cabs has enjoyed a successful start to the year and now plans to open a factory in Brazil.
Current shareholders, Advent Partners LLP have instructed Orbis Partners LLP to divest its interests in TMAT Ltd.
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.
“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 MD Jason Lippitt said: “These are really exciting times for TMAT, and I really look forward to working with new board and sharing ideas for globalisation.
“We would welcome an investor that shares our ambition to make TMAT a major player on the world stage.”