ATA is a niche, high margin export engineering business focused on the production of tungsten carbide burrs (used primarily in repair and precision metalwork in high value industries and automations) and associated power and abrasive tools based in Cavan, Ireland.
FL bought ATA off market in partnership with a very experienced manufacturing executive who became CEO of ATA based on a commitment to deliver an agreed price to it’s existing shareholders in six weeks.
FL and the CEO streamlined all of its manufacturing into the modern Cavan plant, closing an older UK facility and strengthening the management team (new FD, FC and Operations Manager) and refocusing the business on product development. The business achieved strong organic growth directed by the new CEO and additionally acquired Alpine Abrasives, a bolt-on distributor, in the UK in 2010.
FL Partners sold its stake in ATA to private equity firm MML Capital Partners.