Investment sets Macbey on route to global expansion
A company that makes metal packaging is set for international growth following a £300,000 investment by Finance Yorkshire.
Macbey Metal Packaging, based in Huddersfield, is an independent manufacturer of pressed metal packaging for a wide range of everyday products including cosmetic and pharmaceutical goods, shoe polish, and whisky tube bases and closures.
The company’s pressed tin plate closures are used by some of the country’s best known whisky brands to seal their bottle tubing while its aluminium screw caps are used to close personal care products.
Finance Yorkshire’s Equity Linked Investment is being used to upgrade the company’s production facilities and develop new products that will enable Macbey to enter new sectors. As well as serving domestic customers, the company exports to Europe, the US, Australia, New Zealand and South Africa.
Managing Director John Macdonald said: “The Finance Yorkshire investment opens up the opportunity to do a lot of things and move the business forward. We are now able to make equipment and process improvements to our lines as well as look at developing new products and exploring new markets.”
Macbey started life in 2013 when it acquired the assets and staff of Metal Closures. The company now employs almost 40 people. John added: “A fresh start was required and the staff have been fantastic. They have been so receptive to new ideas and taken on new responsibilities to be part of our plans for transforming the business.”
John’s Co-Directors are Paul Bell and Mark Blayney. General Manager Jason Lehman and Mike Bean, Sales, are also shareholders in the business.
Paul Gower, Finance Yorkshire Investment Director, said: “The management team at Macbey has turned the business around since 2013. It is a well-respected business in its marketplace. Our investment provides a platform from which the company can continue to build momentum with its existing customer base while at the same time entering new and attractive packaging sectors.”
Finance Yorkshire’s investments to date have created and safeguarded 10,196 jobs across Yorkshire and the Humber, increased turnover by £309 million and generated private sector leverage of £179 million.
Finance Yorkshire provides seedcorn, loan and equity linked investments, ranging from £15,000 to £2m to help a range of small and medium sized businesses to meet their funding requirements for growth and development.
The project is supported financially by the European Union. It has attracted investment from the European Regional Development Fund (ERDF) as part of Europe’s support for the region’s economic development through the Yorkshire and Humber ERDF Programme, UK Government and match funding from the European Investment Bank.
For more information about Finance Yorkshire, please visit www.finance-yorkshire.com or call 0300 030 6060.
Note: this news article is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire