Management buy-in for plastics manufacturer
T3i Holdings has completed a management buy-in of Oaklands Plastics, a Coleshill-based manufacturer employing more than 80 staff.
Oaklands is best known for its products in the construction, traffic management and water management industries where it produces a range of barriers, mortar tubs and chutes, including the RB22 Crash Barrier, a common sight on UK roads and motorways.
In addition, it produces a range of complex rotational and blow moulded products for other industries and applications.
The acquisition will see the T3i team, led by Keith Tudor, bring their industry knowledge to the manufacturer.
Tudor has more than 25 years experience in the manufacturing sector, having previously spearheaded the growth of Alexander Dennis, the bus manufacturer and led the rapid growth of Terex Pegson, a manufacturer of heavy plant.
The acquisition was funded with the support of Aldermore Bank.
A team from Cattaneo Corporate Finance, led by Scott Peters, sourced and negotiated the funding package, working with the teams at T3i, Oaklands and Aldermore to structure and deliver the transaction.
Tudor said: “We are delighted to have acquired Oaklands, a well-respected name in the Midlands which is renowned for the quality of its products. We aim to continue to do what Oaklands does best, serving customers well while increasing the capacity to achieve the massive growth potential within the business.”
Peters said: “Oaklands Plastics is a fantastic business with huge potential and a real example of the quality of manufacturing in the West Midlands.
“The team at T3i is hugely talented and are a great fit for Oaklands; their experience in taking SME businesses to the next level will be hugely beneficial to Oaklands and in turn to the local area. We wish Keith and his team every success and are excited to see what’s next in store for Oaklands.”
Alex Hazell, business development manager at Aldermore, said: “Aldermore has a real appetite to support businesses like Oaklands with talented management teams like the team at T3i. It’s great to be able to support local manufacturers and we were able to structure a robust funding package to support this transaction. Oaklands has a strong future ahead and we’re delighted to be supporting them on their journey.”
