The deal marks BGF’s tenth investment in the manufacturing sector but only its first in the automotive industry.
VTL has grown from a single product, single site Europe-focused business in 2001 to global operation employing more than 400 people and generating annual revenues of more than £50m.
BGF senior investment manager Richard Taylor said, “BGF has invested in a number of exciting manufacturing businesses to date and it is fantastic to be able to welcome VTL into this group.
“Employing over 300 skilled staff in the UK alone, VTL is a prime example of a Yorkshire manufacturing firm with its heart in the UK and operations across the globe.
“VTL is managed by a high calibre team that has created a business of scale and carved out a leading position in its niche markets.
“There is significant scope for growth both organically and with the opportunity to acquire complementary businesses which management have demonstrated that they can integrate quickly and efficiently.”
The deal is BGF’s second this month following the £10m backing of Scottish Oracle tech and hardware services provider Inoapps.
The deal for a minority stake in the business brought BGF’s investments in Scotland to just over £36.9m.
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