Foresight completes £4m MBI of plastics manufacturer and distributor Industrial Engineering Plastics

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Foresight Group LLP (Foresight) announces the completion of the Management Buy-In of plastics manufacturer and distributor, Industrial Engineering Plastics (IEP), for £4m. 

With operations in Liphook and Birmingham, IEP was founded 25 years ago by Brian Winter and has achieved annual sales and EBITDA growth of c.15% during the recession.  Winter remains with the Company as Commercial Director as it seeks to grow sales and profitability over the next three years.

Darrel Connell, Investment Manager at Foresight commented: "We are looking forward to working with the new management team at IEP, accelerating the growth of this dynamic business which has proved its resilience in the most challenging market conditions.  This transaction continues to build the dealflow momentum at Foresight which in 2011 saw more than £25m released for the benefit of our investors from 27 investments and further investments of £63m in 33 companies.


For further information, please contact:
Ben Thompson: +44 (0)20 3667 8155

About IEP
Industrial Engineering Plastics (IEP) was established in 1986 and is a leading provider of industrial plastics operating throughout the UK via distribution centres in Hampshire and the Midlands.
About Foresight Group LLP
Foresight Group LLP ("Foresight”) is an independent alternative asset manager, which focuses primarily on investments in unquoted UK and European companies or projects and offers investors exclusive access to attractive income and growth opportunities.

Foresight has in excess of £600 million assets under management across a number of funds, including Limited Partnerships, Enterprise Investment Schemes (EIS) and Venture Capital Trusts (VCTs).

Foresight Private Equity comprises eight investment professionals, investing between £1m and £5m in management buy-outs, management buy-ins and growth capital investments in UK SMEs. The strength and depth of the team has enabled Foresight to lead the consolidation of the VCT sector, taking over the management mandates of established VCTs, such as Advent VCT, Advent 2 VCT, Noble VCT, Keydata Income 1 and 2 VCTs, Acuity Growth VCT and Acuity 3 VCT, from other investment managers.

In the solar sector, Foresight’s solar funds have already invested in more than £300 million of operating PV assets in Italy, UK and Spain. 

Foresight recently successfully closed fundraisings for Foresight Solar VCT at £38m and Foresight Solar EIS at £27.5m and has launched a £30m fundraising for Infrastructure VCT Shares, which targets investments in the Secondary PFI, Onsite Energy (including Solar) and Energy Efficiency sectors.