Management buyout completed at Warrington-based CoreRFID
Warrington-based radio frequency identification system maker CoreRFID has completed a successful management buyout thanks to backing from the SME lending arm of venture capital firm Enterprise Ventures.
Chairman Terry Allen, managing director Munzi Ali and sales director Richard Harrison took a 93% stake in the firm after acquiring shares from an existing investor.
CoreRFID serves more than 1,000 customers in the UK and abroad, including defence and aerospace giant BAE Systems, transport operator London Underground and law firm Allen & Overy.
Enterprise Ventures SME Loans is backed by Greater Manchester Pension Fund and Santander.
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