A firm making metal packaging is set for international growth following a six-figure investment.
Macbey Metal Packaging, based at Waterloo, has secured a £300,000 funding package from Finance Yorkshire.
The company makes pressed metal packaging – from bottle caps to tube bases – for products including cosmetic and pharmaceutical containers, shoe polish tins and whisky tube bases and closures.
Its 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 seal 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 USA, 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 was launched in 2013 when it acquired the assets and staff of collapsed business Metal Closures (Huddersfield) Ltd. The company, based at Tandem Industrial Estate, now employs almost 40 people.
Said Mr Macdonald: “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.”
Co-directors are Paul Bell and Mark Blayney. with general manager Jason Lehman and Mike Bean in charge of sales., who are all shareholders.
Paul Gower, investment director at Finance Yorkshire, 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 have created and safeguarded 10,196 jobs across Yorkshire and the Humber, lifted turnover by £309m and generated private sector leverage of £179m.
Finance Yorkshire provides seedcorn, loan and equity linked investments, ranging from £15,000 to £2m to help small and medium-sized businesses SMEs’ funding needs for growth and development.
The project is supported financially by the European Regional Development Fund 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.
