Wells Plastics Management Buy Out
Wells are delighted to announce a secondary management buyout (MBO) of Wells Plastics Limited led by the two Executive Directors, Carl Birch and Stuart Law.
The MBO sees Technical Manager, Dr Gary Ogden becoming a share-holder and the formation of a new Executive Management Team from within Wells.
The MBO bought out the two previous long-term investors following an initial MBO in 2011 and chimes the start of a new exciting chapter for the company.
Carl Birch, Sales and Marketing Director (pictured on the right) commented ‘this MBO has been a long time in the making and will provide true incentivisation for the Executive Management Team to contribute and develop to the on-going success of the business, we are extremely excited about the future of Wells as we continue to develop new materials, applications and partnerships within the industry’.
Stuart Law, Finance and Operations Director (pictured on the left) commented ‘We have all worked extremely hard in recent years, despite the challenges of Brexit, global pandemics and input cost price increases turnover has more than doubled to over £20m and the manufacturing facility has been extended to accommodate additional capacity. This MBO now presents an opportunity for management to share in the success and future growth of the business’.
The MBO follows investments and growth within the company including the recent creation of an Innovation Centre lead by Dr Gary Ogden (pictured to the left) to support the ongoing development of Bespoke Masterbatches and Compounds.
Wells, formed in 1984, is the largest independent specialist additive masterbatch manufacturer within the UK, offering a wide range of functional additive masterbatches and bespoke compounds with a capacity in excess of 10,000t/annum.
With an experienced team of technical, sales and production staff, extensive development and manufacturing facilities based in the heart of the United Kingdom, Wells offers a wide range of products and services to the plastics processing industry both within the UK and internationally.
The management were advised by Ansons Solicitors, Commerce House, Ridings Park, Eastern Way, Cannock and the Banking Facility was provided by Virgin Money, 137 New Street, Birmingham.