Panoramic Growth Equity (“Panoramic”), a leading equity investor in fast growing, entrepreneurial UK companies, today announced that it has backed the management buyout (MBO) of DW Plastics Limited. The MBO team consists of four experienced senior employees, with Sue Burley leading the MBO and being appointed as managing director. This marks Panoramic’s first investment in a south coast based company.
Established in the 1980’s, Chichester based DW Plastics has more than 35 years’ experience in the manufacture of high quality, bespoke thermoplastic extrusion profiles from a variety of materials which are exported around the world. DW Plastics manufactures products for a variety of sectors including marine, construction and retail. Panoramic Partner Stephen Campbell will join the DW Plastics board.
Stephen Campbell, Partner at Panoramic Growth Equity, commented:
“We are delighted to support Sue and the management team in the acquisition of DW Plastics. We were attracted to DW Plastics by the well-established management team who have supported the growth of the business in recent years, coupled with the variety of high quality products manufactured and its strong client base.
We believe that DW Plastics is well placed to take advantage of the increasing demand for high quality bespoke plastic products which can be delivered in very short lead times, this is particularly evident in the marine sector where DW Plastics has significant experience. We are also delighted to play our part in supporting the growth of UK manufacturing”.
Following the transaction, Panoramic advisory board member Tony Lochery has been involved in helping to develop the Company’s ambitious and exciting plans. Clive Johnson has recently joined the team as Chairman to support the company’s progress.
Sue Burley, Managing Director at DW Plastics, commented:
“We are pleased to be working together with Panoramic. Given their professional and approachable style they were the clear choice to support management in the MBO. During the investment process, Panoramic invested a significant amount of time to fully understand the business and get to know the management team. We appreciated their candid approach which provided an excellent basis for the partnership moving forward. With Panoramic we feel that we have the ideal partner as it was important for the team to have the freedom to be able to develop the business independently, as well as having Panoramic’s support and significant experience of investing into high growth companies. We look forward to working with them as we seek to achieve our ambitions for DW Plastics.”
Panoramic were advised by lawyers Squire Patton Boggs with Consilium Chartered Accountants providing Financial Due Diligence and AMI Consulting providing Commercial Due Diligence. Management were supported by legal advice provided by PDT Solicitors and Corporate Finance advice provided by SamCorp.