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GRM Consulting sold to Solid Solutions

A Warwickshire design engineering consultancy and software business has been sold to Solid Solutions, part of the US private equity-owned TriMech group.

GRM Consulting provides design optimisation services and software solutions to customers including several F1 racing teams, many of the top car manufacturers and medical equipment specialists.

In the years prior to speaking with Watersheds, the owners had received unsolicited approaches from several interested parties. These conversations didn’t progress, because buyers struggled to grasp the connection between the software and consultancy parts of the business.

Tim Harrington, a partner at Watersheds, said: “When Martin and Oliver approached us wanting to sell, we explained the preparation work that would be required to showcase the business in the most appropriate way to buyers. GRM is a particularly complex business marrying two connected, but very different, aspects – consultancy and software sales. It was clear that we needed to articulate the benefits of this to buyers, to successfully convey the value of GRM’s unique offering.

“We realised GRM would be attractive to overseas buyers and planned our work accordingly. We approached a range of credible international buyers which sparked a considerable amount of interest, so that Martin and Oliver had a range of attractive options to consider, and provided us, as advisors, with the leverage to get the best price.

“GRM is now part of a bigger group that serves some of the most prestigious companies in the world. Martin and Oliver will continue to lead the business through its next growth stage, and their staff know that the company’s future is positive and secure”.

Martin Gambling said: “When we started thinking about selling, we realised we would need strong professional support for the entire process, which is precisely what we got from Watersheds.

“Tim encouraged us to begin this process early and to prepare properly, which enabled the eventual sale to be completed quickly and smoothly, allowing us to retain focus on the business.

“We are delighted that Watersheds found us a buyer that shares our commitment to innovation, wants to build on our success, and values the role of our loyal and talented staff in that process. It’s the best possible outcome we could have hoped for.”