Beswicks Solicitors has advised global plastics specialist,
Wells Plastics, in a multi-million pound management buy-out
deal.
Based in Stone, Staffordshire and employing 42 people, Wells
Plastics develops tailor-made solutions and technically advanced
masterbatches for the polymer industry around the world.
Simon Woodings and Anne Scheland, of the Beswicks corporate
finance team, advised the sellers including the main shareholder,
David Nelson, who will be assuming a non-executive role following
the sale of the company.
Wells Plastics has been sold to Paul Richardson (who will now
become executive chairman), technical director Andrew Barclay and
sales & marketing director Carl Birch. In addition,
private equity house, Key Capital Partners, has taken a £3.8
million stake in Wells Plastics with senior debt facilities
provided by Natwest.
Wells Plastics, in Stone, Staffordshire, has seen annual growth
of 20% fuelled largely by demand for its Reverte product which
speeds up the time it takes for plastic to degrade.
For more information on Beswicks Solicitors, view their website
here: www.beswicks.com