£3 million investment at ONFAB

Posted on 13 Oct 2017 and read 493 times
£3 million investment at ONFABMiddlewich-based ONFAB (www.onfab.co.uk) has received £3 million of funding from the Foresight Regional Investment Fund.

The company designs and makes flexible containment systems, primarily for use in pharmaceutical manufacturing processes.

It was set up in 2004 by Oliver Nulty, a former AstraZeneca engineer who spotted the market opportunity created by increasing health and safety regulations that made containment a higher priority.

ONFAB, which has about 20 staff and annual revenues of £3 million, plans to use the Foresight investment to continue to expand domestically and overseas, with a focus on new product development.

The funding will also assist with the launch of a second manufacturing facility at Albacete in Spain; when fully operational, this will double its production capacity.

Chris Wardle, investment manager at Foresight Group, said: “ONFAB has demonstrated consistent growth in recent years, and this transaction is a model investment.

“There is a substantial opportunity for the business to grow, supported by existing and new clients, and continued international expansion.

“We look forward to working with Oliver and the ONFAB management team in the coming years.”

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