The workforce of around 150 at Maidenhead-based Taylowe will also transfer as part of the sale.
Taylowe specialises in printed packaging materials, including both folding and rigid cartons.
CT Packaging, an investment vehicle headed by former Thomas Potts and Prontaprint group managing director Alan Barnett (pictured), bought the firm last Friday (2 December).
"We felt we could move the Taylowe business forward much faster than within a group," said Barnett.
TP8 will be a minority shareholder in the business, with the BIMBO team being backed by ABN Amro subsidiary, Venture Finance.
TP8, a wholly owned subsidiary of TP3 (formerly Thomas Potts), acquired Taylowe as part of the 7.5m Boxstar deal in September.
Boxstar, which comprised the former packaging businesses of Polestar, was bought from administrator PricewaterhouseCoopers.
Shortly after the sale, the four plants at Accrington, Leeds, Leicester and Maidenhead dropped the Boxstar brand, reverting instead to the previous trading names of Broadley, Jowetts, Hannibal and Taylowe.
TP3 chief executive Mark Scanlon said that the sale would allow the company to concentrate on creating organic growth for the three remaining businesses.
Barnett said one of the first jobs would be to relocate the business to a purpose-built site no more than 20 miles away from its current 1,858sqm Maidenhead base.
Although he declined to name others in the BIMBO team, he said it did include a "number of the existing Taylowe management".
A three-person board is to be established, along with a six-strong operational management team.
"Our research has shown customers want an independent packaging business that can adapt to a changing environment," said Barnett.
Factfile
- September 2004 Polestar sells its packaging and labels businesses, which includes Taylowe, to an MBO team that forms Boxstar
- September 2005 Boxstar goes into administration, and is bought by TP8, a subsidiary of TP3 (formerly Thomas Potts)
- December 2005 TP8 sells Taylowe to CT Packaging, an investment vehicle headed by Alan Barnett
