investments


MiGlass

Specialist B2B glass processor

December 2011

£2.0 million investment

Exited in October 2018

www.miglass.com

“Working with KCP is very much a case of ‘what you see is what you get’ – they are very easy to deal with.”

Ted Goold, Non-exec Chairman | MiGlass

The business...

The company is a leading UK glass processor. It provides specialist B2B glass processing services across a range of niche sectors, focusing on service, quality and innovation. Established in 1936, Birmingham-based MI Glass is one of the largest independent, specialist glass processors in the UK, supplying a wide range of products, including toughened glass and mirror, to the retail, transport and street furniture markets, amongst others.

The deal...

KCP invested £2 million, backing two members of the management team to buy-out a retiring manager and private equity investor. The transaction structure gave significant equity to the two leaders of the MBO and also created an option pool to incentivise second tier management.

KCP value-add...

During our investment we:

  • Identified and recruited a Financial Director
  • Supported the recruitment of a Sales Director and the expansion of the sales team
  • Supported significant investment into capital plant and increased factory floorspace to support growth

Exit...

Secondary MBO by the management team in October 2018.

Key highlights...

  • Repaid all debt used to fund the transaction within three years
  • Significantly expanded factory capacity