Business Growth Fund exited packaging maker Plastique, in which it invested $7.2m, through an acquisition by a subsidiary of Esco Technologies.
British Growth Fund (BGF), the growth equity fund backed by five UK banks, has exited Plastique, a UK-based plastic packaging manufacturer through an acquisition by utilities technology provider Esco Technologies.
BGF, which is financed by Barclays, HSBC, Lloyds, RBS and Standard Chartered, invested £5m ($8.5m) in Plastique in 2014, taking a stake of undisclosed size.
The banks established the $2.5bn UK government-mandated fund in 2011 to offer long-term financial support to the country’s small and medium-sized companies.
Plastique produces…
