Buy-out for automotive plastics firm

Manufacturing News, Source : TheManufacturer.com
Published : 29 Jun 2006 7:40

A former Manufacturer Awards finalist at the heart of the Midlands automotive supply chain has been acquired in a management buy-out by its founder.

Sertec Plastics, which makes vacuum-formed and polyurethane moulded components mainly for automotive customers including specialist car makers like Aston Martin and Lotus as well as mainstream marques such as Renault and Land Rover.

Sertec Plastics is based at Aston, Birmingham where it employs over 40 and is looking to grow staff numbers and expand its 36,000 sq ft plant.

Explaining the reasons behind the buy-out, founder and managing director Mick McDonough said the plastics operations activities and products were no longer seen by the parent Sertec Group and more focus and investment was needed to enable Plastics to meet ever more demanding customer requirements.

The cost of the deal were not disclosed, but financial backing came from Lloyds TSB Commercial Finance in Birmingham and the transaction was advised by accountants PKF and solicitors Putsmans.

Entries for The Manufacturer Awards 2006 are currently being invited; visit www.themanufacturer.com/awards

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