Plastique, a Tunbridge Wells, UK packaging manufacturer, received a £5m minority investment from Business Growth Fund.
The company intends to use the funds for growth plans in both its core market and the emerging thermoformed pulp sector.
Established in 1979 and led by Managing Director, John Lowe and Sales Director, Perry Rigler, Plastique designs and manufactures thermoformed packaging for customers in the personal care, household products, pharmaceutical, food and broader retail markets. Examples of products produced include gift set inserts, packaging for electronic items and clam shell packaging. The business operates primarily in the plastic packaging market, but is also seeing increased demand in the emerging thermoformed pulp packaging market.
It now generates annual revenues of circa £25m, delivered from three sites in Tunbridge Wells, Nottingham and Poznan, Poland. The company currently employs 170 people, with a number of new jobs expected to be created as part of the expansion. This will be achieved by doubling the size of its facility in Poznan, Poland from 3,000sqm to 7,300sqm.
In conjunction with the investment, Geoff Percy, the former CEO of the Simple Health & Beauty Group and current Chairman of Orion Media, joined Plastique’s board as Non Executive Chairman along with Investment Director Rory Pope.
FinSMEs
29/08/2014