Amber Plastics | RBS Invoice Finance

Amber Plastics completes MBO

  • Chesterfield manufacturer announces completion of management buyout
  • Deal secures 40 jobs at Sheepbridge site

Amber Plastics has today announced the completion of a management buyout (MBO) for an undisclosed sum. The MBO, led by Tony Bunting, has secured 40 jobs at the Sheepbridge manufacturing facility.

Established in 1978, Amber Plastics is one of Europe’s leading rotational moulders. Based in Chesterfield, the business employs 40 staff. Tony Bunting has bought the business from Derrick Round who will continue on in a consultative capacity. Tony Bunting joined the business in 1987 as a machine operator. He progressed to General Manager three years prior to the MBO.

Amber Plastics has enjoyed significant growth in recent years. The company has secured contracts in domestic and overseas motorhome, health and construction markets. Bunting is focused on driving growth further. He has put in place a three-year plan which will see staff numbers increase by more than 25%.

Our invoice finance team has provided a working capital facility. This has released funds to assist with the buyout. It will also support ongoing cash flow requirements and the firm’s future growth strategy. The banking team has secured the company's day-to-day banking.

A team of Chesterfield-based advisors supported the deal. Tim Leeman from Mitchells Accountants and Business Advisers and Sarah Rowland from BRM Solicitors advised on the transaction. 

Tony Bunting, Managing Director of Amber Plastics:

"I am delighted that we have been able to secure all jobs within the company as part of the purchase. Having been General Manager since 2013, as well as worked alongside many of the team over the last 29 years, I know Amber Plastics is in a strong position. It is both successful and profitable.

"Through funding from RBS and the team of advisers at Mitchells, the business is committed to growing production to pre-2008 levels and significantly increasing the workforce over the next three years."

Kevin Burrows, Commercial Business Development Manager (invoice finance team): 

"We are delighted to support Tony with the successful completion of the MBO and support a local business. Tony has been part of Amber Plastics for a number of years and played a key role in the management team’s recent growth strategy. He is committed to continuing the firm’s success and building the reputation of Amber Plastics across the UK. I am delighted to support them and work alongside the a team of Chesterfield advisors on the deal. In particular I worked very closely with Mitchells and together we recognised an appropriate funding structure which would suit Tony the best. The working capital facility has reduced the need for additional debt funding. Its flexiblity will support future growth plans.

Tim Leeman, Partner at Mitchells Accountants and Business Advisers:

"As Tony has been effectively running the business for three years he was the perfect purchaser. Together, we were able to provide detailed information which enabled the invoice finance team to make a decision. It has been a seamless change of ownership and one that sees the business remaining owner-managed.

"It is particularly pleasing that the MBO has been wholly managed by Chesterfield-based organisations. It shows that the town has the skills and resources to successfully complete deals of this size." 

Sarah Rowland, Head of Company Commercial at BRM Solicitors:

"Amber Plastics has been a BRM client for many years. My colleague Anna Cattee and I were pleased to advise them in this deal, and wish the company a successful future."

 

Security may be required. Product fees may apply.

ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER DEBT SECURED ON IT.

Request a quote
Contact us
Set Tab for lightbox