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Allied Glass has completed a £75m management buyout with the backing of Barclays Private Equity that acquires a majority stake in the firm.
Barclays has invested £29.5m for its stake in the firm that employs around 600 people across two sites in Leeds and Knottingley and generated a £78m turnover in the last financial year.
Alan Henderson takes up the reins as managing director in what is the second MBO at Allied in the past decade.
Henderson said the Barclays investment would help build on the firm's customer base and develop the design offering.
"It will also facilitate further advancement in flexible production techniques and allow us to build additional production capacity as demand increases," he said.
Allied's most recent investment is in its Knottingley plant to produce very clear glass for high-value, prestige products.
Andrew Spencer, who led the MBO from Associated British Foods in 2002, becomes executive chairman.
Steven O'Hare is a director at director at Barclays Private Equity and joins Allied's board as a non-executive director.
O'Hare said: "Allied has invested heavily in its asset base, providing a strong platform for future growth. It can now service increasing volumes, and has developed new products targeting niche markets."
Park Place Corporate Finance acted as lead advisors on the deal.
Henderson was previously operations director at Allied's Knottingley site, having joined the company as a graduate trainee in 1996.
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