Swindon-based corporate finance specialists, Watersheds, have successfully completed a deal involving the sale of GRM Consulting Ltd, an engineering consultancy and software provider.
GRM Consulting, based in Leamington, offers design optimisation services and software solutions to various industries, including automotive, motorsports, aerospace, rail, and medical sectors. The company has a remarkable track record of solving complex engineering problems for prestigious clients such as Renault F1 and Jaguar Land Rover.
The acquisition of GRM by Solid Solutions, a division of the TriMech company, marks a significant milestone in their strategy to expand their engineering services team. Solid Solutions aims to enhance the support provided to its extensive customer base of over 15,000 software users in the UK.
GRM Consulting’s journey began in 2003 when Martin Gambling, the Managing Director, established the company as a one-man operation from his kitchen table. Since then, the company has flourished, becoming a trusted name in the industry.
Tim Harrington, partner at Watersheds, expressed his satisfaction with the sale, emphasising that it secures an exciting future for all parties involved. The acquisition presents promising opportunities for the continued growth and success of GRM Consulting under the ownership of Solid Solutions.
“When owners Martin Gambling and Oliver Tomlin approached us to investigate the potential to sell, we explained that a lot of preparation work would be undertaken to present the business in the most appropriate way. GRM is a complex business marrying two connected, but very different, aspects – consultancy and software sales,” said Tim Harrington.
“The fact that at Watersheds we do not charge any fees until a transaction has completed was very attractive to Martin and Oliver, who understandably had no experience of finding and negotiating with potential buyers.
“We spent a lot of time making sure information about GRM was clear, drawing attention to the fact that GRM was a growing business with a very impressive customer list, including several F1 racing teams, some top car manufacturers and medical equipment specialists.
“We realised GRM would be attractive to the big players outside the UK, and planned our research accordingly. When we approached a range of credible and suitable international buyers we were able to spark a considerable amount of interest, which meant Martin and Oliver had a range of options.
“GRM is now set to be part of a much bigger group that serves some of the most prestigious companies in the world. Martin Gambling and Oliver Tomlin will continue to lead the business through its next growth stage, and their staff know that the company’s future is very positive.”
