The executive directors of Silvergate Plastics (Wrexham, Wales / UK; www.silvergate-plastics.co.uk), which was acquired from the Vita Group (Luxembourg; www.thevitagroup.com) through a management buyout in 2008 (see Plasteurope.com of 17.07.2008), have purchased the equity investment of Finance Wales (www.financewales.co.uk), which originally backed the buyout of the company. Finance Wales said it will continue to support the business as a finance provider.

Originally founded in 1984, Silvergate Plastics has grown rapidly in recent years to become the UK’s largest custom colour masterbatch manufacturer. The company’s turnover has grown to GBP 8.6m (about EUR 12m) from GBP 4.2m in 2008. It opened a new headquarters building in Wrexham in 2012 – see Plasteurope.com of 30.08.2012.

Tony Bestall, managing director of Silvergate Plastics, said: “We are delighted to own Silvergate Plastics in its entirety and are very grateful that Finance Wales was able to help us grow into a sustainable and thriving organisation. We look forward to achieving ongoing growth objectives by delivering high performance products that fulfil the exact needs of our valued customers.”