Plastics moulding company Inject Plastics (Devon) has been sold in a management buy-out led by senior manager Richard Bromley. The terms of the deal were not disclosed.

Plastics moulding company Inject Plastics (Devon) has been sold in a management buy-out led by senior manager Richard Bromley. The terms of the deal were not disclosed.

The buy-out facilitated the retirement of Inject founder George Vojtisek.

Bromley said: ‘I am delighted to have completed this transaction and take control of this business, which I have worked for since 2001. With the impact of the financial downturn at a critical point of our negotiations, I did wonder whether the dream would ever come to pass, but Castle’s dogged determination to structure the right deal and the support of Lloyds Bank has been tremendous.’

Kent-based Castle Corporate Finance advised the purchaser. Directors Michael Norrie and Colin Harvey led the team in the deal. Norrie commented: ‘Due to the credit market, this proved an extremely challenging transaction. Castle carefully structured a workable deal for all parties and believes the business continues to have a great future.’