Demaglass Set For Futher Growth

According to a recent press release, Demaglass is set to step up its business expansion plans following a growth capital injection of £5.5m. Funding for the transaction was led by the Leeds office of 3i, Europe's leading venture capital company, which provided £3.1m, alongside £2.4m from co-investor PPM Ventures. 3i and PPM Ventures first invested in the company in 1994 when they backed the management buy-out from Osram and Thorn EMI. Following a capital expenditure programme of £27.4m over a 3-year period, and a consolidation of manufacturing sites, the company is now in a strong position to capitalize on the new production processes it has developed.