Diamorph, the advanced material company headquartered in Manchester with a site in the Czech Republic, is buying Gloucester-based composite manufacturer Permali. Diamorph says it is anticipating completion of the Permali acquisition within the coming months, subject to regulatory approval. The sale price has not been disclosed.
This is Diamorph’s second acquisition. The group previously acquired aerospace composites manufacturer Tufnol Composites Ltd in Birmingham earlier this year.
Since 1937 Permali, which employs around 80 people, has been active in the manufacture, design, and qualification of composite and PU material solutions for the defence, aerospace, health, rail, automotive and other engineering sectors that require compliance with complex regulatory frameworks. It operates internationally from a large 10,500 m2 manufacturing facility based in Gloucester, UK.
Earlier this year Permali, which turned over more than £13 million in 2020 and made a profit of just under £1 million, was awarded funding to develop composite structures for hydrogen-fuelled vehicles.
Diamorph’s Gordon MacLeman, said: “These acquisitions allow Diamorph to broaden its composites competency and enter new markets. Permali has a long history of developing bespoke composite solutions for critical Defence applications since the 1930’s, whilst Tufnol has been manufacturing high performance composites since the 1920’s and has a highly regarded brand and reputation for delivering market leading wear performance in the Aerospace sector.”
Philip Barker, head of industrials at Oaklins Smith & Williamson, led the transaction. He said: “We are delighted to have supported Permali. This transaction highlights our deep sector knowledge and technical skills to resolve difficult issues.”