Foresight invests in ONFAB

Foresight Group has made a multi-million-pound investment from the Foresight Regional Investment Fund into the specialist engineering company ONFAB Limited, a leading designer and manufacturer of flexible containment solutions, primarily for use in pharmaceutical manufacturing processes. Initium acted as lead advisor to ONFAB during the transaction.

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. At the time of the deal, the total global containment market was valued at around £320m, with an estimated growth rate of 10-20% per annum.

Investment for growth

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.

This investment represents the seventh investment from the Foresight Regional Investment Fund, which is successfully supporting high growth small and medium sized businesses across the North West of England. Foresight works closely with management teams and vendors to flexibly structure investments to help teams realise value from their business and accelerate growth.