UK manufacturer Allied Glass has been resold to a private equity group in a deal believed to be worth between £120 million to £130 million.
Owner Equistone Partners Europe Limited (Equistone) completed the sale of the Yorkshire-based glass container manufacturer to CBPE Capital.
Alled, which employs more than 660 people across two factory sites in Leeds and Knottingley, is the UK’s fourth largest glass bottle manufacturer by volume. Allied specialises in the production of complex bottles and supplies containers to brands including Johnny Walker, MaCallan and Smirnoff vodka.
CBPE originally acquired Allied in 2002 and sold it to Equistone Partners Europe in 2010.
The transaction will see the management team retain a substantial stake in the business with a continued focus on growing revenue from existing end markets.
Steve O’Hare, partner at Equistone and Non-Executive director at Allied Glass, said: “The business has grown strongly over the last few years by putting the customer at the heart of everything it does, investing significantly in operational capability and expanding its product offering.”
Alan Henderson, managing director at Allied Glass, commented: “Equistone has been an ideal partner for the business during this expansion period. We have focused the business on achieving quality and sustainable organic growth while strengthening relationships with our customers.”