Nottinghamshire manufacturer snapped up in management buy-out
A Nottinghamshire-based manufacturer and distributor of fully recyclable plastic products for home, office and garden markets has undergone a management buy-out.
The corporate finance team from Grant Thornton UK advised on the sale, with backing from Chiltern Capital.
Strata Products was previously owned by Berry Global, a company in plastic packaging products with its UK headquarters in Northamptonshire.
Berry decided that Strata no longer fit its strategic goals and engaged Grant Thornton to manage the disposal process.
The team handled the entire sale process, leading negotiations and managing due diligence and legal matters to minimize disruption to the business and ensure a successful completion for all stakeholders.
The management buyout was led by Jay Ilsen CEO, who said: “Strata has a proven history of manufacturing high-quality innovative plastic products, and we look forward to continuing to work closely with our trusted customer base. With Chiltern’s support, we will drive growth in the UK through new product development, as well as continuing our expansion in Europe and North America.”
Mike Tillson, partner at Grant Thornton, added: “This transaction has delivered a great outcome for all parties. Strata is now well-placed to continue its growth in partnership with Chiltern. This deal demonstrates the continuing appetite from buyers and investors for well-managed mid-market businesses, and we wish Jay and his team all the success for the future.”
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