MI Glass
The company is a leading UK glass processor. It provides specialist B2B glass processing services across a range of niche sectors, focusing on service, quality and innovation. Established in 1936, Birmingham-based MI Glass is one of the largest independent, specialist glass processors in the UK, supplying a wide range of products, including toughened glass and mirror, to the retail, transport and street furniture markets, amongst others.
Working with Key is very much a case of 'what you see is what you get' - they are very easy to deal with.
Working with MI Glass
Investment process
We invested £2 million, backing two members of the management team to buy-out a retiring manager and private equity investor. The transaction structure gave significant equity to the two leaders of the MBO and also created an option pool to incentivise second tier management.
Growth process
Our focus at MI Glass was to enhance the team so we identified and recruited a Financial Director to assist with reporting and strategy, supported the recruitment of a Sales Director and the expansion of the sales team to improve the top line growth and introduced an experienced chairman to support the board. Additional capacity was required to support the sales growth which meant significant investment into capital plant was required and an increased factory floorspace.
Exit process
MI Glass was exited by way of a secondary MBO by the management team in 2018.