BGF injects £4m into MPG

MPG will use the fresh capital to expand into India and Japan, and invest in new product development.

Following completion of the deal, Paul Barnard, former president of Fluids Platform and managing director of Rocol, has joined the MPG board as non-executive chairman.

BGF stated it was attracted to the deal by the company's differentiated portfolio of products and its positioning in the market.

The deal marks BGF’s second investment in the chemical technology sector in quick succession, having backed fluid engineering consultancy BHR Group in July. 

Company
Headquartered in Harlow, MPG is a developer and manufacturer of medical devices, gas filters and oxygen generators primarily used in the healthcare, military and industrial sectors.

MPG’s clients include CareFusion, Entegris and 3M Group, while the company was also commissioned to provide emergency oxygen systems for Nasa’s International Space Station. MPG has a turnover of £20m and also operates a second manufacturing facility in Colorado.

People
Mark Nunny, a senior investment manager at BGF, will take a seat on the board. Mark Bryant, Chris Hodges and Will Gresty also worked on the deal for BGF. Ian McKernan is CEO of MPG.

Advisers
Equity – Neil James (Financial due diligence); Grant Thornton, Mark Fieldon (Tax); Birketts, Adrian Seagars (Legal).
Company – Grant Thornton, David Ascott, Rupesh Patel (Corporate finance); Mills & Reeve, Pippa Pearce (Legal).

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• Topics
• Expansion
• UK / Ireland
• Industrials
• United Kingdom
• BGF (Business Growth Fund)