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