{"id":2165053,"date":"2026-01-06T14:37:21","date_gmt":"2026-01-06T14:37:21","guid":{"rendered":"https:\/\/www.thebusinessdesk.com\/northwest\/?p=2165053"},"modified":"2026-01-06T14:51:03","modified_gmt":"2026-01-06T14:51:03","slug":"enact-funds-carve-out-of-66m-turnover-packaging-businesses","status":"publish","type":"post","link":"https:\/\/www.thebusinessdesk.com\/northwest\/news\/2165053-enact-funds-carve-out-of-66m-turnover-packaging-businesses","title":{"rendered":"Enact funds carve out of \u00a366m turnover packaging businesses"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Private equity investor Enact Fund has backed the carve out of two packaging businesses, Waddington Europe.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The Manchester team at the fund, managed by private equity firm Endless, have bought Par-Pak Europe Limited and Holfeld Plastics Limited, which trade together as \u2018Waddington Europe,\u2019 from US headquartered group Novolex, which was owned by private equity investor <\/span><span style=\"font-weight: 400\">Apollo<\/span><span style=\"font-weight: 400\"> after it acquired a majority stake from Carlyle in 2022.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Operating from three sites across the UK and Ireland, Waddington Europe is a \u00a366m turnover packaging specialist supplying into sectors including food, pet food, medical and industrial. Its customer base includes major supermarkets and food service providers across the UK and Europe.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The location of the businesses is in Milton Keynes and Burton-on-Trent. Enact\u2019s investment is accompanied by experienced packaging specialists who will join the board to support the existing management team.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Kiran Reddy, Enact Associate Director in the Manchester who led the investment commented: \u201cWaddington Europe has developed long-standing partnerships with key customers and suppliers. We are excited to support management with their plans to build on these relationships. I look forward to the start of 2026 as plans are finalised to support customers ahead of the peak summer trading period.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">Enact were advised by the Manchester based teams of DLA Piper (Legals), K3 Capital Group (Financials and Tax) and Kroll (Property).<\/span><\/p>\n<p><span style=\"font-weight: 400\">Chris Cormack, Managing Partner of Enact commented \u201cWe ended 2025 on a high with the successful exits of Realise and Greenray alongside the strategic acquisitions of GEO and Waddington Europe. These investments, following the recent acquisition of the hire division from listed parent HSS Hire Group, underline the Fund\u2019s continued focus on being a good home for corporate carveouts from larger parent groups and listed entities\u201d.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Manchester-based team at Endless Enact led the deal<\/p>\n","protected":false},"author":264565,"featured_media":2165054,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"coauthors":[116163],"class_list":["post-2165053","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","tag-featured-story","tag-greater-manchester","tag-staffordshire"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Enact funds carve out of \u00a366m turnover packaging businesses<\/title>\n<meta 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