Enterprise Ventures facilitates management buyout at Warrington firm CoreRFID
CoreRFID, a Warrington-based company which specialises in radio frequency identification systems, has undergone a management buyout with funding from Enterprise Ventures SME Loans.
The MBO has seen CoreRFID's management team - led by managing director Munzi Ali and chairman Terry Allen - take a 93% stake in the business by acquiring the majority stake of an existing investor.
CoreRFID has a global customer base of more than 1,000 clients including London Underground, BAE Systems, Capita, BAE Systems and Allen & Overy.
Enterprise Ventures SME Loans is backed by Santander UK and the Greater Manchester Pension Fund.
It provides loans, including for acquisitions and asset purchases, to UK businesses which have been trading for three years or more and have a current or anticipated £100,000 operating profit and a minimum turnover of £1m.
Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.
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