Armstrong Supports GCP’s Investment in GTS

Armstrong has provided CDD in support of Growth Capital Partners’ investment in speciality adhesives and laminates manufacturer GTS.


GTS’s technically differentiated materials are found in a range of end markets and applications including automotive, renewable energy and transportation. GTS has over 50 years of know-how and technical expertise, working closely with customers to provide solutions that can perform in demanding manufacturing processes and harsh end environments.


From its manufacturing facilities in South Wales, GTS has delivered strong growth and impressive profitability, expanding its relationships with key clients across Europe and Asia supported by sales offices in Germany and France alongside established distribution and direct sales to customers in China.

Armstrong’s work included market size validation, competitive environment analysis, and development of base, upside and downside business plan scenarios. The bedrock of our work was numerous highly detailed conversations with GTS’s customers to gather feedback both on GTS’s performance and on wider market dynamics. This was supported by Armstrong’s network of industrials sector specialists.


Ravi Monteiro, GCP Investment Director, said “We are delighted to have completed our investment in GTS with the support of Matt, Sven and the Armstrong team who conducted an extensive referencing programme which was crucial in supporting GCP’s investment hypothesis. We worked closely with the team and appreciated their responsive approach, especially during the challenging UK wide coronavirus lockdown. Their report contained clear and commercial conclusions and we look forward to working with the team again in the future.”


For further details on this project, please contact:

Matt McNally, Director, +44 7984 736 523, mmcnally@armstrong-ts.com

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