News & Events

Janes Captial Partners co-advises TMD Technologies on its sale to CPI, a portfolio company of Odyssey Investment Partners

Janes Capital Partners is pleased to announce that it has co-advised along with Oaklins’ Smith & Williamson (lead adviser) on two United Kingdom based Aerospace & Defense M&A transactions:

tmd-cpi-odysseyTMD Technologies, Ltd. and its wholly owned U.S. subsidiary TMD Technologies, LLC has been acquired by Communications & Power Industries, LLC (“CPI”), a portfolio company of Odyssey Investment Partners.

Consisting of approximately 170 employees in facilities in the United Kingdom and the United States, TMD is a world-leading designer and manufacturer of technologically advanced microwave, radio frequency and high voltage equipment for radar, electronic warfare, communications, medical, EMC testing and scientific applications.

TMD brings new products and technological capabilities to CPI’s established portfolio of electronic components and subsystems focused primarily on the defense and communications markets. TMD’s range of reliable and innovative products includes traveling wave tubes (TWTs), TWT amplifiers, transmitters, microwave power modules, high voltage power supplies, and other microwave devices and amplifiers.

The newly acquired business will be owned and operated as a subsidiary of CPI and will be part of CPI’s Electron Device Business, which focuses on components used in the generation, amplification, transmission and reception of microwave signals.

Permali Gloucester Ltd., a portfolio company of 3i Capital has been acquired by Diamorph Group Holdings Ltd.

Permali Gloucester is a leading designer and manufacturer of composite and thermoplastic polyurethane (TPU) material solutions. It serves global OEMs and government organizations across a wide range of sectors, including defense, aerospace, Formula One (F1), medical and rail, supplying bespoke and highly technical products for often mission critical applications.

Diamorph provides material solutions under a range of brands for highly demanding environments and is backed by Epiris LLP, an independent private equity firm. The addition of Permali’s strong positions in defense, medical and F1 to the Diamorph Wear Components business unit, with the two businesses’ adjacent technology bases, will strengthen the group and create a significant UK player in laminate-based composite materials.

About Janes Capital Partners

Based in Irvine, CA, Janes Capital Partners is a leading investment banking firm focused solely on the Aerospace and Defense industry. The firm provides mergers and acquisition advisory services and assists clients in executing growth strategies and liquidity events. The members of Janes Capital Partners have completed more than 80 successful A&D transactions and $5.5 billion in closed transaction value. Securities transactions are conducted through JCP Securities, Inc., a registered Broker/Dealer, member FINRA/SIPC, and registered Investment Advisor.

Janes Capital Partners is an independent financial advisory firm that is affiliated with Oaklins International Inc. Oaklins is the world’s most experienced mid-market M&A advisor, with 850 professionals globally and 15 dedicated industry teams in 45 countries.