Baring Private Equity Partners (BPEP), the third-party private equity arm of the ING Group, and Northern Venture Managers, a specialist mid-market venture capital fund manager, have led the £12m (€19.2m) management buy-in of John Fredericks Plastics.

The two investors provided the equity funding for the UK producer of plastics for windows and doors, while debt was provided by Bank of Scotland. Details of the debt-to-equity split were not disclosed.