A Midlands investment company is pressing ahead with expansion plans at contract packaging firm, just eight weeks after it completed its acquisition of the manufacturer, a deal in which Black Country law firm Hawkins Hatton advised.
Ian Taft, director of Halesowen-based J Mindal, said BRM Packaging had already won new contracts which had resulted in five new posts.
A further six jobs have been created with the signing of a deal between BRM’s transport division and premier international freight delivery network PALL-EX.
Mr Taft said: “I am delighted with the purchase because the company has a lot of untapped potential, an excellent management team, and skilled work force.
“We have a number of things we are currently doing internally in order to capitalise on new business opportunities so that we are ready to increase sales and expand further.”
BRM Packaging designs, produce tools and manufactures bespoke packaging, including printing, to a wide range of customers.
Colin Rodrigues, corporate partner at Hatton Hawkins, said: “The potential for expansion at BRM Packaging was the driver for J Mindal Ltd to pursue the deal and we were very pleased to assist our client in the legal completion of the purchase.”
The purchase was as a result of the retirement of managing director and major shareholder Neil McLaughlin. He will stay on in a non-executive, part-time, advisory role and the existing management team is also being retained.
* A Lichfield law firm has undertaken the legal work in a management buyout for Tailor Made Systems Limited.
The company is recognised as a world leader in the inspection and maintenance of airfields in the UK and abroad and has its head office in Warwick and a base in Rugeley, Staffordshire.
The company was set up by Vernon Taylor in 1983 who was executive chairman of the TMS Group which includes Tailor Made Systems Limited, EGS Technologies Limited and Forges Limited until his recent retirement. Tailor Made Systems has now been bought out by the four existing directors and managers in a scheme where all 16 employees will now become shareholders.
The four who led the buyout are chief executive Robert Shapton, Peter Evans, Paul Smith and Richard Gore.
Daniel Keane, managing partner at Keelys undertook the legal work for the transaction which included organising the share purchase agreement and other financial documentation.
Mr Keane said: “I’m delighted to have been able to act for Robert Shapton and his team. It’s very exciting for them and the whole of the staff at Tailor Made Systems who now become shareholders and can have real impact on the future success of the company. I’m confident that this is a company which will go from strength to strength and build on the very solid foundations set by its founder Vernon Taylor.”