Member Article

Investors ensure future for East Midlands company

Key business investors for Chesterfield manufacturing company TMAT, specialising in acoustic solutions for tractors and excavators, have been recognised by the IFT (Institute for Turnaround) for their work in securing a promising future for the company.

Advent Partners and IFT members, Andrew Ramsbottom and David Gee have played a major role in supporting TMAT. The IFT is dedicated to helping businesses in difficult turnaround environments. With more than 300 members and with 40 working in the Midlands alone, the IFT is helping to bring business back to the region as well as saving jobs.

Specialists within manufacturing, technology, food and FMCG sectors, Advent Partners provided the working capital needed to grow TMAT. With expertise in management, Andrew and David were also instrumental in the re-structuring of TMAT and the investment programme / business plan.

Advent Partners has helped to encourage and develop a new confidence in TMAT, securing new contracts, increasing employment from 70 to 120 employees and transforming the company’s sales, taking it from a £750k loss to an operating profit of £1m in just two years. Future plans for TMAT involve a possible merger or disposal.

Andrew Ramsbottom of Advent Partners said: “Often through no fault of their own, SMEs don’t know where to go or how to get the support that they need. Another issue is that businesses often believe that they can easily turn themselves around, which wastes time and money and can lead to deeper difficulties. More SMEs need to be asking for help – it will bring the economy off its knees.”

This was posted in Bdaily's Members' News section by Sarah Thompson .