Tuesday, August 9, 2022

MBO completes at Nottinghamshire manufacturer

An automotive parts manufacturer in Nottinghamshire has completed a management buyout, 18 months after the appointment of a new Managing Director.

The management buyout at Interflex in Langar is part of an ongoing expansion plan that has seen the company introduce new products as well as investing in new equipment and diversifying into other areas of manufacturing such as face masks.

Managing Director Jim Griffin will now be taking the lead in the business with founder Pete Ryder remaining involved by supporting the team as required through his position as chairman of the group.

“Having run the business for almost two decades, I felt it was the right time to hand over the reins to a dynamic new team who will take the business forward into the next 20 years,” said Pete. “I will be on hand to offer help and advice as needed but I have every confidence that Interflex will go from strength to strength under Jim’s leadership.”

As the former CEO of manufacturer the Autins Group, Jim has a successful track record in expanding operations into new markets and locations. Following a management buyout at Autins in 2006, Jim oversaw the opening of sites in Sweden, Germany and India as well as leading the company through a profitable flotation on the stock market.

Jim said: “I will be working closely with other members of our experienced management team, including our finance director Mark Cardnell and operations director Gary Brooker to continue developing the business, bringing some exciting plans for growth to fruition.

“In addition to maintaining the current product lines of automotive trim and acoustic insulation, Interflex are developing other new NVH products to meet the demanding requirements of the rapidly expanding electric vehicle sector. We are also preparing to move into new markets including rail and off road vehicles.”

In May 2021 Interflex was awarded a £250,000 grant from the Department for Business Energy and Industrial strategy as part of the NMCL Automotive Programme. The award will fund 50% of a half a million pound project to bring in external experts to coach and mentor the Interflex team as part of the strategy for growth.

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