Ashbourne manufacturer secures funding
Homelux Nenplas, the tile accessory and plastic extrusion manufacturer based in Ashbourne, has secured additional borrowing facilities from Yorkshire Bank Corporate & Structured Finance. The company said the finance would be used to support its expansion plans.
The sum of the investment was not disclosed.
Homelux Nenplas employs 110 people at its Derbyshire site. It has made “selective tooling acquisitions” over the past three years to develop and strengthen its extrusions business.
Jake Robinson and Gemma Murphy of law firm HBJ Gateley Wareing advised the bank. The company was advised by Richard Wrigley of law firm Martineau and Gary Ecob and Craig Nash of corporate finance firm Orbis Partners.
The bank began lending to the business when it supported a management buyout in 2006. That deal saw the management team, now led by Rob Butcher, Gary Horrobin and Richard Lumb, acquire the company from US owner Newell Rubbermaid with backing from private equity house Maven Capital Partners.
