Equistone reviews options for Allied Glass

According to reports, the glass-maker could fetch up to £150m if a sale goes ahead.

Equistone acquired Allied Glass in a secondary buyout from CBPE Capital in August 2010, backing the company's £75m management buyout. Equistone (then Barclays Private Equity) invested £29.5m for a majority stake in the company, alongside reinvestment from management and senior debt facilities from HSBC and Lloyds TSB.

Since investing, Equistone has supported the company through a £3m investment in its glass colouring facility at its Knottingley plant in 2012. This year, Allied Glass rebuilt its melter and forehearth on its G1 furnace, also in Knottingley.

Established in 2000, Leeds-based Allied Glass manufactures glass bottles and containers predominantly for the spirits and specialised food markets. Clients include Langtons Gin, The Famous Grouse and Bulldog Gin. The company posted an operating profit of £11.5m in the year to December 2011.

Equistone declined to comment.

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• Topics
• UK / Ireland
• Equistone Partners Europe
• Close Brothers Private Equity (CBPE)
• Rothschild