A management buyout of privately owned UK printed folding carton manufacturer Benson Group has been led by managing director Mark Kerridge and commercial director Nick Benson, with support from Lloyds Banking Group.
Benson has enjoyed a 10-year period of growth, from a £10 million turnover single-site operation, to a 4-site £108 million turnover organisation returning an EBITDA of £10.7 million in 2011. It has acquired three additional packaging businesses, absorbed the order books of two further companies, and invested more than £22 million in plant and equipment. The business is currently on track to reach sales of £120 million in 2012.
Mark Kerridge said: “It will be business as usual. We expect to continue with our current business strategy, with further organic growth anticipated. The business plan that has been created for the MBO has identified a number of potential opportunities for us to explore in the near future. We will also be keeping a keen eye on European developments.”
