MOLECULAR PRODUCTS GROUPSeptember 2014 | Investment News
In September 2014, BGF built on its record of backing British manufacturers by injecting £4m of growth capital into Molecular Products Group Limited (MPG), a developer and manufacturer of medical devices, gas filters and oxygen generators.
It marked the twentieth growth capital investment that BGF made to help UK manufacturing-led businesses realise their growth ambitions. It also brought the total invested into the chemical technology sector to nearly £7m, coming shortly after BGF’s investment in BHR Group, an expert fluid engineering consultancy.
MPG is owned by the McKernan family and managed by Ian (Group CEO) and Andrew (Group Commercial Director). Its manufacturing facilities are based in Harlow, Essex and in Boulder, Colorado, from which it makes sales throughout the world to customers through a network of subsidiaries and distributors.
The company’s chemical based technology is applied in a number of specialised and demanding end-markets within the healthcare, military and industrial sectors with customers including the MoD. MPG was also commissioned by NASA to design and build an emergency oxygen system for the International Space Station.
BGF’s investment is enabling the company to build share in existing markets as well enter new geographies such as India and Japan and to deliver further innovations in its product lines. Key new technologies in development include high performance activated carbons, which offer enhanced filtration and adsorption of harmful gases for use in military and industrial respirators; and a portable lightweight oxygen generator that delivers emergency medical grade, oxygen to the battlefield.
Paul Barnard joined the MPG Board as Non Executive Chairman at the completion of BGF’s investment. Paul’s executive career included 14 years at ITW Inc (the final two as President of the Fluids Platform business) and 6 years as Group MD at Rocol. Paul was introduced to MPG via BGF’s Talent Network of experienced business leaders.