Key Capital acquires Midland Industrial Glass

Key Capital has acquired a majority stake in the company after Midven's exit. Investment will support the company's plans for organic and acquisitive growth.

Key Capital invests £2-10m in growing UK companies. Since its launch in 2007, it has made nine investments since the closing of its maiden fund on £100m.

Previous funding
In 2005, Midven injected £250,000 into Midland Industrial Glass through the Advantage Growth Fund, becoming the company's lead investor.

Company
Based in Smethwick and established in 1936, Midland Industrial Glass supplies a range of products including toughened glass and mirrors to the retail, transport, balustrading and street furniture markets. Clients include Marks & Spencer, Arcadia Group and Philips. The company employs 60 members of staff.

People
Alan Taylor is managing director and Glen Bicknell is operations director at Midland Industrial Glass. Owen Trotter, partner at Key Capital, and Richard Thomas, investment manager, led the transaction for Key Capital.

Advisers
Equity – Squire Sanders & Dempsey, Peter McLintock, Ryan Hawley (Legal); RPL, Roger Penney (Commercial due diligence); Grant Thornton, Alex Hyde, Andy McGinn (Financial due diligence).
Management – Springboard Corporate Finance, Justin Sparks (Corporate finance); Harvey Ingram, Matt Harvey (Legal).

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• Topics
• UK / Ireland
• Industrials
• Buyouts
• United Kingdom