trovus

Formaplex

Country UK
Region South East
Investor Dunedin

Dunedin invested £9.3m in Formaplex – an engineering business that provides a rapid turnaround service to customers such as all UKbased Formula 1 teams – for a large minority stake in December 2007, attracted by a strong management team and high growth potential.

During the investment, despite ongoing macroeconomic pressures, Formaplex has been transformed from a prototype tooling business into an advanced manufacturing business focused on servicing rapid response, design and support for manufacture in the application of plastics, thermo plastics and composites. It has increased its production facilities from 20,000 square feet when Dunedin invested to 135,000 square feet today, and employee numbers have increased from 45 to 165 while turnover has quadrupled.

Dunedin are a great team to work with: ambitious and driven. Their approach mirrors our own.

Michael Last Managing Director, Formaplex

What did the business need?

  • Management support
  • Financial support to help grow business
  • Strategic review and senior resource

How did private equity backing create lasting value?

  • Made additions to management to strengthen senior level team
  • Enacted strategic review and provided executive team for support
  • Financial support to fund manufacturing capacity growth through investment in new machinery and working capital

What outcomes did private equity investment achieve?

  • Formaplex transformed from a prototype tooling business into an advanced manufacturing business focused on servicing rapid response, design and support for manufacture in the application of plastics, thermo plastics and composites
  • Increased production facilities from 20,000 square feet when Dunedin invested to 135,000 square feet today
  • Employee numbers have increased from 45 to 165
  • Turnover has quadrupled during investment period

4x

increase in turnover during investment period

135

thousand square feet of manufacturing space

Case study image

For more info
Formaplex
Dunedin