A Birmingham manufacturing group has secured a new funding package to help with its expansion plans.
Founded more than 50 years ago, Cameron-Price specialises in injection moulding and assembly for blue-chip customers in the automotive, medical, sport and electrical sectors among others.
The new undisclosed funding from Yorkshire Bank provides a combination of cash flow loans, a property mortgage and working capital facilities to assist the business as it undertakes fresh expansion.
It has also enabled finance director Lewis Pepall and operations director Russel Watts to acquire equity in the Stirchley-based business alongside managing director Barry Moor.
Mr Moor said: "We are very excited about the future as we have excellent opportunities and a world-class manufacturing facility. Being able to bring Lewis and Russel into the ownership of the business will help us to deliver on our plans for growth and diversification over the coming years.
"We will continue to expand and grow in new sectors in order to capitalise on the significant opportunities we see ahead."
Yorkshire Bank senior director Ian Fairclough, who worked on the deal, added: "Since the 2015 MBO, the company has traded strongly, generating significant cash flows and paying down much of the previous debt.
"The business has a fantastic reputation in the UK and across Europe for delivering quality injection moulding solutions.
"Under the leadership of Barry Moor, the company moved up the value chain with impressive growth over the past four years.
"As the business continues to expand, bringing Lewis and Russ into the ownership was the natural progression. We look forward to being a part of their continued growth."
Also advising on the deal were Dains Corporate Finance, Freeths and Pinsent Masons.
