Advent set to sell out of TMAT

UK private equity backer Advent Partners, which invests in small and medium sized enterprises, yesterday said it had told its financial adviser Orbis Partners to sell the firm’s stake in TM Acoustic Technologies (TMAT). Advent partner Andrew Ramsbottom said: “The time is right for a larger group with significant capital to come in and give TMAT and MD Jason Lippitt the support to drive it forward into the global market.”