GTS Flexible Materials
Manufacturer of adhesives and flexible laminates
Contributing Sustainable Development Goals
Background
GTS is a specialist manufacturer of adhesives and flexible materials for the automotive, renewables and power generation industries. They are a highly recognised and differentiated brand with over 50 years of technical know-how and experience. End users include flexible circuits for the automotive industry including battery interconnect circuits for Electric Vehicles and laminated busbars for safe and efficient distribution of power in industrial applications.
We are backing a highly experienced management team with a robust plan for growth.
Our investment partnership
GTS has an established and differentiated market position as a manufacturer of specialist technical products. They have built long term, embedded customer relationships with a focus on technical support and product evolution.
They are well positioned to take advantage of growing end market opportunities, particularly in battery production for electric vehicles, the trends in the shift towards renewable energy and increasing electrification of transportation.
Strategic support through our Growth Toolkit
Since our investment we have closely supported Chris, Stephan and their team with a number of strategic growth initiatives, leveraging our Growth Toolkit and Network:
Strategic Clarity
Business Shape
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Strategy - Development of a detailed strategic plan used to guide investment across all areas of the business post investment
Proposition
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Service Line Development - Supported the expansion of the manufacturing footprint to increase production capacity including significant investment in new plant and machinery
- Significant investment in the manufacturing capabilities, including a more efficient Solvent Recovery Plant, clean room spaces, and a faster Tape Coater which bring efficiency and ESG gains
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Product Strategy - Supported continued investment in the research and development of new market leading products and alternative input materials
- Increased KPIs and refined processes around investment in product development – linked to go to market strategy and wider market trends to ensure the business is able to meet the changing technical expectations of clients and win new programmes
Accelerating Growth
Commercial
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Sales/GTM - Working with the new CEO to refine the key sector and geographic focus of the business, which will drive sales/GTM approach and new product development
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Pricing/Revenue Model - Focused price increases across key customers and product lines to protect profitability as a result of increased manufacturing and operating costs post Covid.
People & Organisation
Leadership
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Senior Team - Recruitment of an experienced industrial manufacturing sector Chair
- Employed a new sales-focused CEO who has extensive business improvement and manufacturing experience, with a seamless transition from the previous MD
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Org Structure - Supported with significant investment in the wider management and operational teams, helping to define an effective and future-proofed organisational structure
Talent & Culture
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People Function - Support for employee engagement initiatives, people development and retention strategies and investment in the People/ HR function
- Widened equity participation amongst the team through a new equity options scheme
Platform for Success
Finance and Operations
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Finance Function - Recruitment of CFO and subsequently supported investment in the finance team, systems and processes leading to a significant improvement in MI
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Operating Systems - Undertaken a detailed manufacturing process and quality review and implemented lean manufacturing processes and training
Delivering the Best Outcome
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Maximising Value Through Process - GCP funded the entire deal at completion with a flexible capital structure to suit the needs of the business and shareholders, underpinning the deliverability of the deal
- GCP led a refinance process to secure a flexible banking package including a capex facility to underpin future investments in operations and processes