John McGavigan Limited, a Glasgow, UK-based manufacturer of decorative assemblies and interior parts for the automotive industry, has raised expansion funding from Maven Capital Partners.
The company intends to use the funds to continue to develop its core UK business and establish a low cost manufacturing base in China, which will provide access to the largest automotive market in the world.
John McGavigan, which employs over 130 staff at its modern plant in Bishopbriggs near Glasgow, supplies Tier 1 manufacturers such as Bosch, Visteon, Continental and Yazaki. Its components are used by global brand car makers producing affordable high volume cars, including Ford, GM, Jaguar/Landrover and Toyota.
The company was acquired in 2009 by the current senior management team, led by Managing Director David Taylor, and has achieved sales of £9m in the first full year of trading.