BGF invested £5m growth capital in Plastique, a manufacturer of thermoformed plastic and pulp packaging.
The company designs and manufactures packaging for customers in the personal care, household products, pharmaceutical, food and broader retail markets. Headquartered in Tunbridge Wells, Plastique invested BGF’s capital to build its thermoformed pulp packaging capability and expand its manufacturing facility in Poland. With BGF’s support, Plastique became the first European manufacturer of smooth surfaced thermoformed pulp packaging.
After a period of sustained growth, in February 2016, Plastique was acquired by TEQ, an Illinois-based thermoformed packaging company and subsidiary of NYSE listed ESCO Technologies Inc., for an undisclosed sum.
The acquisition by TEQ will enable the Plastique team to continue to develop their product offering and expand sales opportunities into new geographies and sectors. Plastique’s management team will remain in the business to drive the next phase of growth and oversee the integration with TEQ.