Glass processing MBO

Private equity firm Key Capital Partners (KCP) has sold its interest in MI Glass (MIG) to the management team – Alan Taylor and Glenn Bicknell – in a £multi-million deal backed by Clydesdale Bank. The terms of the deal were not disclosed.

Based in Smethwick in the West Midlands, MIG has a 75-year heritage providing glass processing solutions to a number of industries including retail interiors, catering equipment and office design throughout the UK and central Europe.

With a 76-strong workforce, the company has 55,000ft2 of manufacturing space at its Downing Street, Birmingham, premises and has recently opened a second 25,000ft2 factory in the city in Booth Street.

KCP acquired its interest in MIG in 2011 and since this time has supported the company as it has invested in expanded production premises and processing equipment.

MIG managing director Alan Taylor said: “We’ve had a great partnership with KCP who have supported us as we have expanded our production capabilities and reach in the glass processing market. MIG is in an excellent position for the next stage of its development.

“Our plan is to continue to invest in our growing facility to increase and develop our markets in line with our customers’ demands. We specialise in decorated and high-end glass processing, which requires significant ongoing research and development.”

KCP managing partner Owen Trotter, added: “KCP is very happy to have played a role in the MI Glass story. In addition to delivering a return to our investors, it has been a pleasure to work with a UK manufacturer with such a strong focus on customer service and quality. We wish Alan, Glenn and their team every success in the future.”

KCP makes equity investments of between £3 million and £15 million and has a strong reputation of deliverability and a track record of producing outstanding returns for its investors.