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Jaycare gains finance as management takes overstevenkiernan, 1 August 2006Be the first to comment on this article A 4m refinancing deal has secured the future of Newcastle-based packaging moulder Jaycare, and has seen management become the majority shareholder. The company’s bankers Allied Irish Bank and HBOS have provided the additional funding, while debts owed to its former venture capital shareholder Phoenix Equity Partners have been written off. Formerly Johnsen & Jorgensen Packaging and then Waddington Jaycare, the firm has allocated £1m of the funding to the immediate upgrade of existing equipment. Jaycare chief executive Archie Fyfe said: “We are six months into an overhaul and have invested in a new PET and blow mould machine. Within the past few months, we have won long-term contracts worth £2.7m.” Jaycare factfile - Offers injection moulding, extrusion, injection and injection stretch blow moulding facilities - Secondary operations include three-colour screen printing and four-colour dry offset printing - Employs approximately 225 people Speak Your Mind |
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