Plastics play for Octopus

Octopus Asset Management, which runs the Eclipse series of VCTs, has supported acquisitive plastics manufacturer Plastics Capital, investing £3.1 million alongside City broker Investec.

This will enable the £11 million acquisition of two engineers, one of which is Sarnatech BNL, part of Swiss concern Sarna Polymer.

Previously Investec put £3.2 million into the group a year ago. Following the deals, Plastics Capital has three separate businesses, operating from four factories across the Midlands and South and producing annual turnover of £15 million. Items made include ball bearings.

Chairman Faisal Rahmatallah says ‘The two new additions combine to make an attractive and highly cash generative group.

Leslie Copeland

Leslie Copeland

Leslie was made Editor for Growth Company Investor magazine in 2000, then headed up the launch of Business XL magazine, and then became Editorial Director in 2007 for the online and print publication portfolio...

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