A FORMER general manager of a plastics firm has led a management buy-in of the company,

Techbuild Composites, which manufactures glass and carbon fibre reinforced products in Clayton-le-Moors, has been bought by a team headed by Robin Wolfendale who becomes managing director.

Jonathan Brown, inventor of the company's leading products, was also involved in the buy-in along with David Preston, a former director of Independent British Healthcare plc. The sum involved in the deal has not been revealed.

The firm, a former division of GEC Engineering which employs 80, has also licensed two new products - Amourcrete and Hypercrete - from Kemira Polymers as part of an expansion programme.

Amourcrete is used in ballistic protection systems used by the Ministry of Defence and shooting clubs around the country.

Hypercrete has applications in the building industry and has been used in the Middle East in the construction of mosques.

"This management buy-in is a typical example of the wealth of opportunities available to companies at the present time," said Stephen Dunn, partner at KPMG Corporate Finance in Preston which managed the deal.

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