Linpac Group, a UK based international plastics packaging manufacturer, has sold five non-core business units to Chamonix Private Equity, a London-based private equity firm.
Completed on 31 December 2010 were Linpac Storage Systems, Linpac Environmental, Linpac Recycling, Intellident and Linpac Metal Decorating – previously collectively known as the Linpac ‘Speciality Businesses’. All are based in the UK, and Intellident also has a small presence in France and The Netherlands.
Linpac says in future will generate over 90% of sales from the manufacture, marketing and support of plastic packaging products and returnable transit containers/RTP.
The consideration is not being disclosed, but together the five business units generated a little under 6% of group revenues, and employed a total of around 450 people, or 6% of the former LINPAC workforce. With the exception of Intellident they are now expected to change their names.
John Darlington, Executive Chairman of Linpac Group, said: “We have sold five non-core business units, and are using the funds to pay-down debt.”
