Bunting up at Amber Plastics after MBO

A Chesterfield plastics manufacturer has been sold in an MBO in a deal that has secured the jobs of 40 staff.

Tony Bunting has bought Amber Plastics from outgoing owner Derek Round, who will now retire but act as a consultant for the company.

Established in 1978, Amber Plastics is a leading rotational moulder. Bunting originally joined the business in 1987 as a machine operator progressing to the role of general manager three years prior to the MBO.

Bunting says he is focused on driving growth further and has put in place a three-year plan which he says will see staff numbers increase by more than 25 per cent. He says he is particularly pleased to close the deal which he has ended any threat of the company being sold to a larger firm from outside the area which could have led to redundancies.

Bunting said: “I am delighted that we have been able to secure all jobs within the company as part of the purchase. Having managed the business on the ground since 2013 as General Manager, as well as worked alongside many of the team over the last 29 years, I know Amber Plastics is a strong position. It is both successful and profitable. The business is now committed to growing production to pre-2008 levels and significantly increasing the workforce over the next three years.”

A team of Chesterfield-based advisers and funders have supported the deal. RBS Invoice Finance represented by Kevin Burrows has provided a working capital facility which has released funds to assist the purchase of the business. The Royal Bank of Scotland’s banking team led by Simon Bellamy has also secured the day to day banking needs of the company. Tim Leeman from Mitchells Accountants and Business Advisers and Sarah Rowland from BRM Solicitors also advised on the completion of this transaction.