Foresight injects £3m into Onfab

Following the deal, Onfab will look to expand domestically and overseas. The investment will also support the launch of a second manufacturing facility in Albacete, Spain, which Onfab expects to double its production capacity. The company will expand its management and sales teams and focus on developing its product range, production and operations.  

The deal is the seventh investment from the GP's Regional Investment Fund, which targets SMEs in the north-west of England, south Yorkshire and north-east Wales with equity investments of up to £5m. The fund held a first close on £38m in January 2016.

Earlier this month, the private equity firm invested £1.9m in UK-based graphics company Regency Design & Print.

Company
Founded in 2004, Onfab is based in Cheshire and was established by former Astra Zeneca engineer Oliver Nulty. The firm designs and manufactures flexible containers primarily for use in pharmaceutical manufacturing processes.  

People
Foresight – Chris Wardle (investment manager).
ONFAB – Oliver Nulty (founder).

Advisers
Equity –PMSI (commercial due diligence); Catalysis Advisory (management due diligence); Rafalie Corporate Finance (corporate finance); RW Blears (legal).
Company – Butcher & Barlow (legal); Josolyne & Co (financial due diligence).

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• Topics
• Expansion
• UK / Ireland
• Industrials
• Foresight Group (Foresight Venture Partners)