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M.R. Machine Knives supplies a range of knives for the food production and packaging industries. It serves customers in 50 countries, with some 80% of sales exported worldwide.
Foresight's investment is set to drive further growth across the business, with plans to diversify the customer base by targeting new sectors and geographies, including the United States, as well as investing in further in-house manufacturing capabilities to expand the product range.
As part of the transaction Foresight has introduced Dave Roberts as chairman. Roberts was a founder and chief executive at a number of food packaging manufacturers, and brings knowledge of the company's products and market dynamics.
Michael Bailey, Managing Director of M.R. Machine Knives, said: "The company has grown year-on-year since it was formed 12 years ago, but in order to take it to the next level we needed to bring on board a new partner to help the business realise its full potential.
"The Hawsons Corporate Finance team were given the remit to identify an investor that would not only offer financial backing but also help the company enter new markets whilst continuing to achieve operational excellence. Foresight Group was identified as the perfect partner to help drive the company's growth ambitions and deliver these aims. I look forward to the future and I am confident that the business will flourish with Foresight's support and backing."
Rob Jones, senior investment manager at Foresight, added: "Michael, supported by the wider team at MRMK, has built a very strong business from the ground up to become one of the most reputable companies within its sector. The company's reputation for quality and service delivery really stood out throughout the process and the sustained growth over recent years has been impressive.
"The sector has demonstrated robust trading during the pandemic and the company is well positioned to capitalize on positive market dynamics by further expanding its manufacturing capabilities, supported by Foresight's investment."
