THE DIRECTORS of Jablite and Styropack, including one who started his career on the factory floor at the latter 28 years ago, have completed a management buyout from previous owner Synbra Group.
Richard Lee, managing director and new joint owner of the expanded polystyrene manufacturing business, started working at Styropack aged 17, and has worked his way up the ranks since.
He now owns the business along with finance director Ken Hutchins, operations director Wayne Brown, and newly appointed chairman John Colley, as well as funds advised by Mobeus Equity Partners.
Lee said yesterday: “This is a really exciting day for myself and my fellow directors. I never imagined, as a 17 year old starting work as a machine operator at Styropack in West Sussex, I would eventually end up owning the business and its sister company 28 years later.”
The company said both firms will continue on a business as usual basis, but said the new venture would undergo a “gradual revolution”.
“Be in no doubt, we are absolutely determined to grow our new company into a larger, thriving business whose products are always the first choice for insulation and packaging in the UK,” said Lee.