Foresight makes £4 million investment into MR Machine Knives to boost growth plans
MR Machine Knives, a Sheffield-based manufacturer of machine knives has secured a £4 million investment from private equity firm Foresight Group. M.R Machine Knives supplies a range of knives for the packaging industry. It serves customers in over 50 countries, with over 80% of sales exported worldwide. M.R Machine Knives manufactures knives compatible with many machines, such as Multivac, GEA, ULMA, Sealpac, Proseal, PA and Bosch, amongst others.
Foresight’s investment is set to drive further growth across the business, with plans to diversify the customer base by targeting new sectors and geographies as well as investing in further in-house manufacturing capabilities to expand the product range.
As part of the transaction Foresight has introduced Dave Roberts as chairman. Roberts was a founder and chief executive at a number of food packaging manufacturers, and brings knowledge of the company’s products and market dynamics.
Michael Bailey, managing director of MR Machine Knives, said: “The company has grown year-on-year since it was formed 12 years ago, but in order to take it to the next level we needed to bring on board a new partner to help the business realise its full potential.”
Rob Jones, senior investment manager at Foresight, added: “Michael, supported by the wider team at MRMK, has built a very strong business from the ground up to become one of the most reputable companies within its sector. The company’s reputation for quality and service delivery really stood out throughout the process and the sustained growth over recent years has been impressive.
“The sector has demonstrated robust trading during the pandemic and the company is well positioned to capitalise on positive market dynamics by further expanding its manufacturing capabilities, supported by Foresight’s investment.”
