Diamorph is a Manchester-headquartered designer and manufacturer of advanced material products for demanding and safety-critical applications across a broad range of industries including fire protection, transportation, high temperature industries and industrial composites. The business has a global presence with sales in more than 65 countries.
In March 2019 Epiris bought Diamorph from a group of institutional and private investors. Their strategy is to accelerate growth by investing in the group’s strengths in R&D and application engineering.
Having worked with Charles Elkington, Partner at Epiris, on a number of projects over the years, Simon Thomas, Head of Industrial at Directorbank, was asked to propose a solution for when the incumbent CFO resigned.
With full responsibility for the finance function and pivotal to the continued growth of Diamorph, an experienced, high calibre finance professional was required. A proven track record in a high growth, multi-site business was preferred, and ideally prior experience in Private Equity and M&A. The successful candidate would also possess the commercial and entrepreneurial mind-set to act as a strong sounding board to the CEO and senior management team.
Simon, supported by the Directorbank research team, identified 105 candidates using a wide variety of search methods and tools:
- Comprehensive candidate mapping from relevant companies;
- Targeted internet searching;
- Candidate mapping from companies that had recently gone through an exit;
- Directorbank’s known network and referrals;
- Sourcing calls.
Directorbank approached 94 of these individuals for initial screening and assessment. 11 candidates were then interviewed resulting in a shortlist of six for Epiris and the Diamorph team to review.
Shal Gupta was offered the role in late 2019 and commenced with Diamorph as CFO in February 2020.
Shal is a Mechanical Engineering graduate, Big 4 trained, and has spent the previous six years as Group Finance Director at PE-backed Airswift, a fast growing international business services company with global operations. During his tenure, Airswift opened in new markets and merged with its largest competitor to create a $1bn revenue business.