Plastic manufacturer completes acquisition after £11m injection

Goodfish Group has completed its acquisition of Schneider Electric’s UK extrusion and assembly business after an £11m facility.

The funding from Shawbrook Bank has enabled the plastic and composite components manufacturer to integrate the operations in Flint and boost working capital facilities for future growth.

Founded in 2010 by Greg McDonald, Goodfish Group has grown through acquisitions and now operates four manufacturing and assembly facilities across the UK. The new business will operate as Goodfish (Flint), alongside other manufacturing businesses in St Asaph, Cannock and Worcester.

To fund the deal, Shawbrook provided Goodfish with a multi-asset facility comprising receivables, property, inventory and plant & machinery, bringing the total financing provided to £11m.

Shawbrook previously supported Goodfish’s acquisition of Honeywell’s injection-moulding, extrusion and tool-making operations at St Asaph.

Jamie Kerin, managing director of Goodfish said: “This acquisition is a natural next step, allowing us to enhance our services and increase our capacity. We’re pleased to bring the Flint operations into the Goodfish Group and for the continued support of Shawbrook in funding these strategic initiatives.”

Liam Baxter, client director of asset based lending at Shawbrook said, “We’re delighted to continue our support of Goodfish’s growth and build upon our longstanding relationship.

“The acquisition was complex, involving an extended timeline and multiple approvals due to the scope and scale of the transaction. We worked closely with Jamie and the team at Goodfish to adapt the funding as needed, ensuring the company could proceed with confidence despite the complexities.”

Shoosmiths acted for Shawbrook on the deal. Keelys acted for Goodfish, as they have done for more than ten years.