UK private equity fund Elaghmore has acquired Formaplex, an integrated manufacturer and supplier of lightweight component solutions to the global automotive, motorsport, aerospace, medical and defence markets. Established nearly 20 years ago, and with revenues in excess of £60m, Formaplex operates from four manufacturing sites based along the south coast of England. The company employs over 500 employees and, following the acquisition, CEO Mike Bryant will continue to head-up the operation.
Andy Ducker, co-founder at Elaghmore, says: “We believe that Formaplex has significant potential for continued growth in all of the sectors it serves. More and more businesses are looking to replace traditional component materials with lightweight solutions that increase efficiency and reduce environmental impact. We look forward to being part of this growth by providing Mike and the team with financial and operational support.”
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