PMSI provides commercial due diligence on Foresight's acquisition of ONFAB
Foresight have invested in ONFAB, a specialist engineering company, designing and manufacturing flexible containment solutions, primarily for use in pharmaceutical manufacturing processes.
ONFAB was founded in 2004 by Oliver Nulty – a former Astra Zeneca engineer – who spotted the market opportunity created by increasing health and safety regulations which made containment a higher priority, specifically in pharmaceutical manufacturing processes.
With Foresight’s investment, ONFAB will continue to expand domestically and overseas, supported by an expanded management and sales team and a renewed focus on new product development, production and operations. The investment will also support the launch of a second manufacturing facility in Albacete, Spain. Once fully operational the Spanish facility will double production capacity.
Chris Wardle, Investment Manager, Foresight Group, commented:
“ONFAB has demonstrated consistent growth in recent years...with a strong team and market dynamics there is a substantial opportunity for the business to grow, supported by existing and new client accounts, and continued international expansion. We look forward to working with Oliver and the ONFAB management team in the coming years, and thank the advisors for their support in getting the deal completed to timetable.”