THE management of Leek-based Collcap Packaging has acquired equity that was in the hands of external private shareholders in a buyout led by managing director John McDermott.
The company said that with the equity under management control for the first time it was targeting growth via an acquisition-led strategy.
Collcap, through its UK operations and its subsidiary company in Hong Kong, is a provider of packaging and packaging solutions for cosmetics, perfume and personal care industries.
The company counts Boots, Hugo Boss, Next, French Connection, Ted Baker and H&M among its customers.
Management was advised by Castle Square Corporate Finance. Barclays Bank in Stoke provided finance for the buyout and working capital facilities. Stoke-based Beswicks Solicitors provided legal advice.
Mr McDermott said: "Collcap is now in a position to implement its future business strategy unhindered.
"The group now has a clear focus on further growth and looks forward to the challenges of the future."