CorpAcq seals packaging swoop
A FAMILY-owned packaging company has snapped up by North West investment firm CorpAcq.
Northern Packaging, which operates from two sites in Skelmersdale, and has 80 staff and sales of more than £12m a year, has come the Altrincham firm’s maiden packaging investment and 11th overall.
Financial terms of the transaction were not disclosed, but it was described as a “multi-million pound deal”.
Established 30 years ago, Northern Packaging makes environmentally-friendly corrugated packaging for customers in a range of sectors, including food and drink, retail and healthcare. Its customers range from multi-national companies to small firms.
Vendor Phil Bunting is remaining as managing director, along with finance director Joy McEvoy and commercial director Ben Dack.
CorpAcq chairman Simon Orange said: “This transaction is another example of our strategy of acquiring profitable businesses with a track record of success and a strong management team.
“Northern Packaging specialises in quality products and exceptional customer service, and is committed to developing those attributes through continual investment in plant and technology. We believe the skills of the management team, complemented by CorpAcq’s strategic guidance and investment, will enable Northern Packaging to continue its excellent progress.”
Phil Bunting added: “CorpAcq seems the perfect fit for Northern Packaging, with its shared values and commitment to business growth. We’re in no doubt that CorpAcq will allow us to drive Northern Packaging forward while maintaining our commitment to quality customer service and safeguarding the future of our valued workforce.”
BetFred founder and entrepreneur Fred Done is one of the high net worth investors in CorpAcq.
Lee Teste, of Summerlin Corporate Finance, and Matt Fleetwood and Mary Erb, of law firm Fieldfisher, advised CorpAcq on the deal. Steven Gordon of SMG-CF provided due diligence advice. Jon Ballard, of Ballard Evans Corporate Finance, advised Northern Packaging.
