An asset based management buyout of Peerless Plastics and Coatings located in Thetford, has secured the future of the business and the jobs of 28 employees.

James Grint the new owner and Managing Director has worked at Peerless for the past eight years, having established his career in plastics 17 years ago. Since joining Peerless he has worked his way up through the company to manage the Sales and Operations areas.

The Management buyout releases Peerless from previous constraints on its business development and will enable the company to move forward much more quickly with new product development, essential for the future growth of the company.

James Grint, Managing Director “ We have some new products about to launch and revolutionise the market place that they are designed to work in. The buyout allows us to move forward at speed. I believe I have the right people and the right products to expand the business locally, nationally and with the recent appointment of a European Sales Manager much further afield. We have an established base in Norfolk and looking to grow the business from our base over the next few years”

The management team was advised by Mike Brown at Lovewell Blake Corporate finance and the buyout was funded by HSBC.

For further information on Peerless Plastics and Coatings Ltd contact James Grint on 01842 750333 or e-mail info@peerless-coatings.co.uk