Omega Plastics Group Management Buyout Sets the Stage for Growth

Omega Plastics Group, a Gateshead-based injection moulding company involved in sectors such as industrial, automotive, medical, and FMCG, has undergone a management buyout (MBO). The buyout was led by Dave Crone, an existing shareholder, who is now the new majority shareholder and will serve as the group managing director. The transition includes the exit of previous majority shareholder and investor Chris Thompson, and former CEO Craig Swinhoe. Omega has expanded its capacities and managed to grow its turnover from £10 million to £15 million over five years and performed well during the pandemic. The company is now fully owned by its management, reflecting a significant transition for the organization. The new ownership structure aims to focus on growth and innovation, and includes a share option scheme for department heads, as well as the recruitment of a sales and commercial director. The company has also secured fresh funding to tackle future challenges and growth opportunities. Legal and tax advice were provided by key advisors from Muckle LLP and Clive Owen LLP, respectively, with funding supported by Trusted Business Partner and Lloyds Bank.