The company intends to use the funds to acquire new manufacturing equipment, increasing capacity and efficiency, as well as to expand in the international bankcard and the prepaid card market.
Founded in 1994 by the current MD, Paul Underwood, Thames Card Technology provides a full-service offering to organizations that wish to distribute plastic cards to their customers, including design and manufacture of cards as well as personalization and dispatch. It services a range of markets with an international blue chip customer base across banking, retail, telecoms and ID.
In 2013, TCT manufactured over 175m credit/debit, gift and loyalty cards, generating sales of £18m.
In addition to the investment, Andy Caffyn, the former CEO of Deloro Stellite Group and Avery Weigh-Tronix, joined TCT’s board as Non-Executive Chairman along with BGF’s Investment Director Rory Pope.