Private investment firm Key Capital Partners (KCP) has sold its interest in MI Glass (MIG) to the management team in a multi-million pound deal backed by Clydesdale Bank.
Based in Smethwick in the West Midlands, MIG has a 75-year heritage providing glass processing solutions to a number of industries including catering equipment, retail interiors and office design throughout the UK and central Europe.
With a 76-strong workforce, the company has 55,000ft2 of dedicated manufacturing space at its Birmingham premises and has recently opened a second 25,000ft2 factory in the city.
KCP acquired its interest in MIG in 2011 and since this time has supported the company as it has invested in expanded production premises and state of the art processing equipment.
MIG MD Alan Taylor said: “We’ve had a great partnership with KCP who have supported us as we have expanded our production capabilities and reach in the glass processing market. MIG is in an excellent position for the next stage of its development.”
KCP managing partner Owen Trotter added: “KCP is very happy to have played a role in the MI Glass story. In addition to delivering a return to our investors it has been a pleasure to work with a UK manufacturer with such a strong focus on customer service and quality. We wish Alan, Glenn and their team every success in the future.”