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BGF invests £3.2m in UK plastic card maker Thames Card Technology

23 Dec 2013

credit card paymentUK government-backed growth investor BGF has provided £3.2m for plastic card manufacturer Thames Card Technology (TCT).

The deal marks BGF’s 14th investment in the manufacturing sector, having parted with more than £60m since its inception in May 2011.

TCT, which offers design and manufacturing services to organisation which require plastic cards for customers, had sales of £18m in 2013.

BGF’s said its investment would allow TCT to acquire new manufacturing equipment, increasing capacity and efficiency.

It said the financial and operational support would also help the company capitalise on the significant growth opportunities offered in the international bankcard market and the prepaid card market.

BGF investment director Rory Pope said, “Thames Card Technology is an excellent example of a business that is suited to the growth capital investment that BGF is offering.

“It has done exceptionally well to reach the position that it occupies today as a respected card manufacturer and a leading company in its space.

“It has been able to fund steady upward growth from its own balance sheet.

“However Paul and the senior team now want to see that growth accelerate and recognise that we can help them to capitalise on the opportunities in the international banking market and the prepaid card market.

“For BGF, this is an exciting opportunity to support a UK manufacturing business that is looking to grow its domestic and export sales and we look forward to working with the team.”

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