KCP sells Mi Glass in management buy-back

Financial details of the sale remain undisclosed, though KCP said in a statement that the transaction was a "multi-million pound deal" and that it delivered "a return" to its investors.

The divestment brings to an end a seven-year holding period for the vendor, during which the business invested in expanding its production premises and acquiring new processing equipment. MI Glass has also increased its headcount from 60 to 76 under KCP's tenure.

The latest transaction was backed by a debt package from Clydesdale Bank.

Previous funding
KCP invested £2m to acquire a majority stake in Mi Glass (then known as Midland Industrial Glass) in 2011.

Company
Founded in 1936, Smethwick-headquartered Mi Glass manufactures specialist glass, including toughened glass and mirrors, for use in retail, catering, transport, offices and street furniture.

People
Key Capital Partners – Owen Trotter (managing partner).
Mi Glass – Alan Taylor (managing director).

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• Management buyback