After 45 years in plastics innovation and engineering, White Horse Plastics (WHP) co-founder and owner Rod Houghton has agreed a company sale to the existing management buyout team, in a deal advised by BCMS.
The management buyout of precision plastic components manufacturer WHP takes effect immediately, and the new team will be led by general manager Paul Bobby, who takes over as managing director. With over 100 years of experience at the company, the new management team intends to focus on growth in its niche specialisms within the medtech, healthcare and automotive industries, along with general technical moulding.
Houghton said: “I am delighted to be placing the WHP business in such capable hands. Knowing the competences of all concerned greatly assures me that the company has a very bright future – at least for the next 45 years.”
WHP was founded by Rod Houghton, Roy Bayston and Don Fathers in 1973 in rural Oxfordshire, and moved to its current location in 1993.
The company’s signature strength is the development and production of tight tolerance technical injection mouldings and plastic-based sub-assemblies, and the business now has over 30 injection moulding machines, plus inspection areas, tool room, CAD design facility, and dedicated medtech manufacturing space.
Managing director Paul Bobby said: “We are delighted to have made such a smooth MBO transition to new ownership and the new management team.
“I want to thank all our customers for their support over the years and to reassure them that White Horse Plastics continues to be in very safe hands. We are all excited by what the future holds over the coming months as we actively pursue new markets and new sales and build upon our reputation over the last 45 years.”
Houghton was advised by BCMS with legal advice from Freeths. The value and terms of the deal are undisclosed.
BCMS lead adviser Nick Lankester commented: “We are delighted to have advised on the successful sale of WHP to such an experienced and energetic management team. This deal means Rod can leave the business he co-founded in safe hands.”