Wolverhampton plastics firm acquired by Derby businessman

A WOLVERHAMPTON plastics firm has been acquired by an East Midland entrepreneur in a move designed to support its growth.

BJ Plastics, based in Showell Road, was established in 1971 and specialises in coating and spraying of thermoplastic powders for canteen furniture, garden equipment, handrails and fencing.

The firm has been acquired by Derby chartered engineer and businessman, Jay Benson, with acquisition finance from HSBC.
 
The acquisition finance included a £245,000 mortgage enabling Mr Benson to purchase the building where BJ Plastics is located, as well as a £20,000 loan to support the growth of the business with investment in new reverse osmosis equipment.  
 
The new equipment will enable the firm to eliminate surface contamination caused by unfiltered water, providing an optimised surface condition for applying powder coating, creating a long-lasting finish.
 
Mr Benson said: “I’m thrilled to have been able to acquire BJ Plastics and secure a future for the business with HSBC’s support. The local economy is very interesting and diverse and we are looking forward to expanding the business into new markets and to providing an even better service to our existing clients with the new equipment we’re investing in.”  
 
Paul Smith, HSBC’s Nottinghamshire and Derbyshire Area Director for Business Banking, added: “We are committed to helping businesses like BJ Plastics realise its growth ambitions. Jay has strong plans for the future of the business and we look forward to working with him as he develops and grows his business.”
 
The HSBC funding was arranged by David Arthur.