YFM Equity Partners, the independently owned private equity investors, has exited its investment in GTK for £14.3m.
Volex bought YFM’s stake, generating a return of 3.4x original cost to its funds and a 36% IRR.
YFM supported the incumbent management team in the primary buyout of GTK from its founder in October 2013. During the past five years, GTK has seen invested revenues grow over 60% and profits have more than doubled. The growth has been driven by continued investment in the UK sales team; the opening of a new sales office in Germany; a near doubling of manufacturing capacity in the UK; and, the opening of a new manufacturing facility in Romania in 2016.
John Morath, CEO at GTK, said: “GTK has grown tremendously since the MBO driven by a continued investment in sales reach, operational capabilities and international expansion. It has been a great journey to go on with YFM who have been the supportive partner that they said they would be.”
Jamie Roberts, Partner who led the investment for YFM, added: “We have really enjoyed working with John and his team at GTK over the last 5 years and it is great to have been part of another UK manufacturing.”