Shape

BGF exits Plastique following acquisition by TEQ

Investment news
17.02.2016.

BGF has exited its investment in Plastique, a manufacturer of thermoformed plastic and pulp packaging. The company has been acquired by TEQ, an Illinois-based thermoformed packaging company and subsidiary of NYSE listed ESCO Technologies Inc., for an undisclosed sum.

Minority shareholder BGF invested £5m in Plastique in July 2014. The company designs and manufactures packaging for customers in the personal care, household products, pharmaceutical, food and broader retail markets. With BGF’s support, Plastique became the first European manufacturer of smooth surfaced thermoformed pulp packaging.

Headquartered in Tunbridge Wells, Plastique invested BGF’s capital to build its thermoformed pulp packaging capability and expand its manufacturing facility in Poland. The acquisition by TEQ will enable the Plastique team to continue to develop their product offering and expand sales opportunities into new geographies and sectors. Plastique’s management team will remain in the business to drive the next phase of growth and oversee the integration with TEQ.

BGF has backed more than 100 growing businesses since 2011, including 23 British manufacturers, and will now reinvest the returns from this exit into other entrepreneurial companies.

John Lowe said: “This is an exciting opportunity to continue the growth of our business. BGF’s capital has enabled us to further scale our operations and increase the breadth of packaging solutions we can offer our clients.”

Related Articles

November/2017 | London & South East

BGF backs Cornwall Insight

Cornwall Insight, a leading provider of research, analysis, consultancy and training services for the energy and water sectors has received …

November/2017 | London & South East

Trouva lands $10m to help independent boutiques thrive

Trouva (www.trouva.com), the curated marketplace for the UK’s ‘hidden gem’ homeware and lifestyle brick and mortar boutiques, today announces that …

November/2017 | Manufacturing & Engineering

BGF launches largest ever growth capital fund for Irish businesses

BGF will today launch the largest ever growth capital fund dedicated to Irish small and medium-sized companies. The fund which …