OGM Moulding — Acquisition by SP Group
UK specialist plastic injection moulding manufacturer acquired by SP Group, illustrating how specialist capabilities, quality accreditations, modern production assets and long-standing customer relationships can support a valuation around the typical sector range.
Acquirer
SP Group
Year
2026
Purchase Price
£18.0m
Revenue
Not disclosed
Adjusted EBITDA
~£4.4m
EBITDA Multiple
~4.1×
Industry
Plastics & Polymer Processing
Transaction
SP Group A/S acquired OGM Moulding in August 2026 for £18.0m on a cash- and debt-free basis. OGM was a UK manufacturer specialising in plastic injection moulding and finished-product assembly for medical and diagnostics, safety equipment, industrial and transport customers. The business generated approximately £4.4m of FY2025/26 EBITDA, implying an EBITDA multiple of approximately 4.1×. An additional earn-out of up to £6.0m was payable if specified earnings targets were achieved in 2027 and 2028. SP Group stated that the multiple would be approximately 4.8× EV/EBITDA if the full earn-out was achieved, based on the relevant earnings expectations. OGM held ISO 9001, ISO 13485 and ISO 14001 certifications, and more than £10m had recently been invested in production facilities and cleanroom capacity.
Why the Premium?
- Specialist injection-moulding capabilities
- Highly automated production
- Long-standing customer relationships
- Exposure to demanding medical and industrial markets
- ISO 9001, ISO 13485 and ISO 14001 certifications
- More than £10m recently invested in production facilities and cleanroom capacity
SME Takeaway
OGM Moulding's revenue fell within the SME Multiples $1–$50M benchmark. The transaction provides a useful example of a specialist plastics manufacturer selling at around 4× EBITDA, with established customers, specialist capabilities, quality accreditations and modern production assets supporting its valuation. The ~4.1× multiple is based on the £18.0m purchase price and approximately £4.4m of FY2025/26 EBITDA. The additional earn-out of up to £6.0m is excluded from this multiple.
Disclaimer: Case study figures are based on publicly available information and are provided for illustrative purposes only. Transaction values, EBITDA figures and implied multiples may reflect different reporting periods, definitions and deal structures, and some multiples are calculated from disclosed figures rather than reported by the parties. They are not formal valuations, investment advice or a substitute for independent professional advice.