05/02/2008

Manager completes MBO at Dipec with investment from Finance Wales

South Wales-based Dipec Plastics Ltd, which can boast products for a television sci-fi series and a successful British artist among its clients, has been bought-out by its senior manager.


Finance Wales, which provides commercial funding to SMEs in Wales, has backed the MBO by Jason Callow with £140,000 investment. Entrepreneur Action and SRBlegal advised the purchaser on the deal. The company, established in 1981 and currently employing 13 employees in Ely, Cardiff, specialises in the manufacture of bespoke plastic products, including fabrication, machining and assembly from concept and design to an end product.

Dipec has moved into high value added applications and counts protective safety screens in the royal seating area at Cardiff’s Millennium Stadium and work for the Welsh BAFTA Awards among some of its work.

The MBO by Mr Callow followed the decision by Dipec’s founder and managing director, Paul Robinson, to retire. Working with Gareth Jones of business advisors Entrepreneur Action through the Welsh Assembly Government’s General Support for Business Programme, he implemented an 18 month succession plan to prepare Mr Callow to take control of the business.

“An MBO was an obvious route for me after spending 18 years with the company,” said Mr Callow. “Investment was critical to the deal and working with Finance Wales we secured funding which allows us to expand the business further, focussing on our bespoke activities.”