Key Capital et al. back Wells Plastics with £1.5m

Wells Plastics will use the fresh capital to invest in new machinery to increase production capacity and offer more flexible production. Following the funding, the business is planning to increase output by around 25% to support its growth plans.

The company has recently launched Reverte, a line of oxo-biodegradable and degradable additive masterbatches and compounds. Sales of the product have increased by 20% over the past 12 months.

Key Capital initially backed the MBO of Wells Plastics in February 2011, alongside senior debt facilities from long-time banking partner NatWest.

Company
Founded in 1984 and based in Stone, Staffordshire, Wells Plastics supplies additives to global plastic manufacturers and processors. The company has developed an expertise in bespoke and contract work.

Wells Plastics employs more than 40 people at its manufacturing site in Stone and has a turnover of £10m.

People
Mark Buttler is a director at Key Capital. Dr Neil Partlett is chief executive of Wells Plastics.

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