Dealmakers add strength to international corrugated cardboard acquisition
ADVISORS from the region played central roles in the takeover of Americk Packaging Group by Spanish multinational SAICA, reinforcing the strength of the West Midlands dealmaking community.
Catalyst Corporate Finance and Squire Patton Boggs advised SAICA, which is a £2.1bn-turnover group with 8,000 staff that develops and produces recycled paper for corrugated cardboard.
Both Catalyst and Squire Patton Boggs have been working with SAICA for many years, advising on the development of its operational infrastructure in the UK.
Acquiring the Americk Packaging Group follows the acquisition of four privately owned recycling businesses, completed over a two-year period – Futur Recycling, Stirling Fibre, Cutts Recycling and Houghton’s Paper – which secured the critical supply of recovered paper and card as the raw material for SAICA’s paper making plant in Manchester.
Catayst partner Mark Wilson led the deal supported by Ali Robertson and Robert Pearce. He said: “This is a great European success story. Once again we have been able to use our expertise and significant experience in the packaging industry to source and execute an off-market acquisition for SAICA, enabling them to diversify into the fastest growing area of the packaging sector.
“This is the fifth acquisition we have completed for SAICA, demonstrating our ability to partner with leading international businesses that want to build their UK presence via M&A.”
Ed Dawes, who led the Squire Patton Boggs team supported by Claire O’Connor, added: “This multijurisdictional transaction also marks our fifth acquisition for SAICA and is a clear example of post-Brexit investment in the future of the UK’s economy.”
The firm worked on the transaction with Irish law firm William Fry and Belfast practice Tughans. The acquisition is subject to approval from the Irish Competition and Consumer Protection Commission.
