Thursday, December 17, 2020

News: £4m investment at Rotherham-based manufacturer

By

M.R Machine Knives Limited (MRMK) has secured £4m to enable it to continue to grow.

The funding is via Foresight, a leading independent infrastructure and private equity investment manager, and will provide equity release and growth capital to allow the Dinnington business to scale.

MRMK supplies a diverse range of knives for the food production and packaging industries. The Company is known for its quality products and exceptional customer service, serving customers globally in 50 separate countries, with some 80% of sales exported worldwide.

Machine knives are critical components to the efficient running of machinery used throughout the food manufacturing supply chain. Quality and reliability are essential to the efficient running of manufacturing facilities in such high-volume environments and MRMK is now highly regarded in its chosen sectors, evidenced by the sustained growth over recent years.

Foresight's investment will drive further growth across the business, with plans to diversify the customer base by targeting new sectors and geographies as well as investing in further in-house manufacturing capabilities to expand the product range. As part of the transaction Foresight have introduced Dave Roberts as Chairman. Dave was a founder and CEO across a number of food packaging manufacturers, so has strong knowledge of the Company’s products and market dynamics.

Foresight has significant experience supporting SME manufacturing businesses with other current investments including Envair Technology (manufacturer of air containment solutions) and Swype (specialist plastic card manufacturer).

Advertisement
Michael Bailey, managing director of M.R Machine Knives, said: "The Company has grown year-on-year since it was formed 12 years ago, but in order to take it to the next level we needed to bring on board a new partner to help the business realise its full potential.

"The Hawsons Corporate Finance team were given the remit to identify an investor that would not only offer financial backing but also help the Company enter new markets whilst continuing to achieve operational excellence. Foresight Group was identified as the perfect partner to help drive the Company’s growth ambitions and deliver these aims. I look forward to the future and I am confident that the business will flourish with Foresight’s support and backing."

Rob Jones, Senior Investment Manager at Foresight, added: "Michael, supported by the wider team at MRMK, has built a very strong business from the ground up to become one of the most reputable companies within its sector. The Company’s reputation for quality and service delivery really stood out throughout the process and the sustained growth over recent years has been impressive. The sector has demonstrated robust trading during the pandemic and the Company is well positioned to capitalise on positive market dynamics by further expanding its manufacturing capabilities, supported by Foresight’s investment."

Foresight was supported by BHP and WhiteCap on financial and commercial due diligence and a legal team from Freeths led by Lisa Wallis. MRMK were advised by Hawsons, led by Pete Wilmer and Jack Ware with CMS advising the vendors on legal matters.

MRMK website

Images:

0 comments:

Members:
Supported by:
More news...

  © Blogger template Newspaper III by Ourblogtemplates.com 2008

Back to TOP