BRM Packaging of Wolverhampton has been sold to Midlands investment company J Mindal for an undisclosed sum in a deal advised by the Birmingham office of international accountancy firm Mazars.
The £2 million turnover firm has 45 employees and the deal offers the possibility of more jobs in the future.
The sale follows the retirement of managing director Neil McLaughlin, the major shareholder. He will remain with the company in a non-executive, part time advisory capacity. The existing management team is being retained.
BRM Packaging is a well-established plastic thermoforming and contract packing business.
It services customers in the industrial, electrical and domestic product related packaging sectors producing a range of point of sale and blister pack products to customer’s requirements for the commercial and retail markets.
Ian Taft, owner of J Mindal, said: “It will be a new chapter in the company’s history.
“We will be expanding our sales team and will be seeking to encourage new business opportunities.
“It is our intention to build on the company’s good reputation and we will be listening to our customers to see how we can grow our business with them. In addition we will be implementing a controlled programme of new investment in the company going forward which will generate new opportunities for local employment.”
The deal was put together by Mazars colleagues Andrew Millington and Gurinder Sehmi.
Mr Millington said: “We initiated the deal, introduced the buyer and led the transaction.
“BRM Packaging is a leading manufacturer of point-of-sale plastic blister packs and I am sure that under the direction of J Mindal it will continue to prosper.”
Other advisors were Richard Griffiths at Higgs & Son and Colin Rodrigues of Hawkins Hatton.
