Manchester-based Brammer (www.brammer.co.uk) — a supplier of industrial maintenance, repair and overhaul products — has received the ‘green light’ to be de-listed from the Stock Market and sold to Al Robin Ltd (a subsidiary of US private-equity firm Advent International Corporation) for £221.5 million in an all-cash deal.

Brammer, which warned in October that it would not make a full-year pre-tax profit, had said that turning the business round would be difficult while it was listed.

Furthermore, it would require “significant structural and behavioural changes”, incur significant cash reorganisation costs and take at least three years.

Advent International has invested $32 billion in more than 320 private-equity deals in more than 40 countries. Its core sectors are: business and financial services; health-care; industrial; retail, consumer and leisure; technology, media and telecom.