Wells Plastics undergoes equity-backed management buyout


UK-based additive masterbatch manufacturer Wells Plastics has changed hands in management buyout with funding Key Capital Partners (KCP), which will have a "significant minority stake" in the business. KCP has invested £3.8 million in equity in the Staffordshire-based Wells Plastics, with senior debt facilities from National Westminster Bank Plc (Natwest) as well as an additional investment from the incoming executive chairman, Paul Richardson.

Richardson will join Wells Plastics as its sales and marketing director, with KCP partner, Andy Gregory, also joining the board as a non-executive director, while former Wells managing director, David Nelson, will retain a role at the company, as will technical manager, Andrew Barclay, and sales manager, Carl Birch....
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