Insider Media Limited

Key Capital Partners has backed the secondary management buyout of Smethwick-based Midland Industrial Glass (MIG). The private equity house, which has an office in Birmingham, said it is looking for further acquisitions to accelerate growth at the company.

The deal, led by Owen Trotter and Richard Thomas, will allow MIG to capitalise on a number of projects in 2012, the company said.

KCP, which backed MIG managing director Alan Taylor and operations director Glenn Bicknell, has taken a "significant" stake following the transaction, providing an exit for incumbent Birmingham-based venture capital investor Midven.

Investment manager Richard Thomas said: "Our investment will help MIG to grow the business through the development of new products and markets, we will also be seeking acquisitions to further accelerate the growth of the company."

Established in 1936, MIG is a specialist glass processor, supplying a range of products, including toughened glass and mirror, to the retail, transport, balustrading and street furniture markets.

Alan Taylor, managing director at Midland Industrial Glass, said: “The investment from KCP marks a new era of our proud history. Having developed into one of the leading players in the UK glass processing market we look forward to building on our position and continuing to provide the highest quality service to our clients.”

KCP was advised on the transaction by law firm Squire, Sanders & Dempsey. RPL provided commercial due diligence on the transaction.

The management team at MIG was advised by Springboard Corporate Finance and Harvey Ingram. Grant Thornton provided financial due diligence services.