RSM advise on sale of Initial Packaging Solutions Limited to Coveris
Added by Love Business East Midlands | 4 March 2021
RSM’s M&A and Private Equity team have advised the shareholders of Initial Packaging Solutions Ltd, on the successful sale of the business to Coveris Group.
Initial Packaging Solutions Ltd is based in Widnes in Cheshire and specialises in the production of tamper evident bags for use in the mailing and courier, e-commerce, finance and diagnostics industries. Robert Croft and Lee Childs will remain in their current roles as Managing Director and Finance Director, driving the business forward in the next stage of its development.
Coveris, a European packaging company, manufactures packaging for some of the world's most respected brands protecting a wide range of products including food and pet food, medical devices, industrial and agricultural products. Coveris operates 27 sites across Europe with 4,300 employees.
Helen Brocklebank, Mergers and Acquisitions Director at RSM, said:
‘The market for specialist and tamper evident bags has experienced continuous and solid growth, as a result of growing e-commerce and the need to deliver products securely and safely. Acquisition of a strong strategic partner in Initial Packaging Limited will give Coveris access to new markets and expand its capabilities in this high growth area. We are delighted to have supported the shareholders and wish them and Coveris, the best with developing the business.’
Rob Croft, Initial’s Managing Director commented:
“We would like to extend our thanks to the team at RSM for working tirelessly, steering us through the process and providing invaluable advice. We see today’s acquisition as a great fit for both our organisations and are excited for what the future holds for Initial and Coveris going forward.”
Jakob A. Mosser, CEO Coveris, said
“We are delighted to welcome Initial Packaging to the Coveris family. In combination with the existing Coveris World Class capabilities in the fields of extrusion, printing and conversion, Initial Packaging bring a wealth of experience and expertise which will add greatly to our customer offering in the highly attractive global tamper evident packaging market”
The transaction was led by Helen Brocklebank and John Daly of RSM, and supported by Helen Gibson, Marion Brewer, Noel Mooney and Liam O’ Brien. Gorvins LLP provided legal advice.
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