Directors of VP, Rob Morley and Stephen Webster, established the packaging firm in 1989
Tower Growth Management (TGM) has acquired Nottingham-based Visual Packaging (VP).
VP works across a wide range of both traditional and advanced thermoformed packaging solutions, for a wide variety of industries, including food, medical and cosmetics.
TGM plans to help develop the business by increasing its turnover from £2.6 million to £3.3 million over the next year by working with the packaging firm to develop 100% biodegradable plastic packaging.
The team is also looking to expand VP’s client base and team, with the recruitment of a designer, business development team and the introduction of an apprenticeship programme.
Directors of VP, Rob Morley and Stephen Webster, established the packaging firm in 1989 and felt it was the ideal time to take a step back from the demanding duties of company ownership.
Mr Morley commented, ‘We’d spoken to several people interested in the business, but the reason we went with TGM is because the team wanted to drive the business forward, and were also committed to looking after the staff. I’m looking forward to working with [TGM] to develop the business.’
TGM regional partner, Simon Ashcroft, who has been appointed to VP’s board, was instrumental in the acquisition process. He said, ‘We are delighted to welcome VP into the TGM family and I’m really looking forward to seeing where we can take the company.’
