MBO marks ‘robust outlook’ for Excelsior flexible packaging

3 July 2012


A management buyout of Excelsior Technologies, a north Wales-based flexible packaging manufacturer, has received financial backing from investment group Growth Capital Partners.

Excelsior designs and manufactures a portfolio of packaging products and supplies to a range of blue chip clients across the food and medical packaging sectors, including Birds Eye, Haribo, Premier Foods and SC Johnson.

The company has become a specialist in high temperature packaging films and microwaveable packaging – supplying over 600 million microwave packs per year, using proprietary technology for foods including vegetables, rice and prepared meals. It is also a world leader in steam steriliseable medical packaging.

David Moorcroft, Excelsior managing director, says: “GCP had a compelling offer and we were impressed with their track record of working in partnership with management teams to grow companies both organically and through acquisition.

“They have already identified a target company and we look forward to working in partnership with them to fast track the growth of our business.”

Garrett Curran, who led the deal for GCP and who also joins the board, says: “Excelsior has invested heavily in its manufacturing capabilities and has built an impressive customer base. There are positive market dynamics for flexible packaging and growth will be driven by Excelsior’s in-house product development capabilities, plus the significant cost and operational advantages it can offer over competitors.

“The UK is seeing a resurgence in the niche manufacturing sector as overseas companies recognise the ability of UK manufacturers to be flexible and devise real and innovative solutions to customers’ needs. Excelsior is one such manufacturer.”

GCP is an experienced provider of blended equity and debt to small- to medium-sized businesses in the UK, typically investing in businesses with an enterprise value of between £5m and £50m in management buy-outs, development capital and secondary or tertiary buy-outs.

Headquartered in Deeside, north Wales, Excelsior employs over 200 staff and operates from four sites, two in Deeside, one in Lancashire and one in North Carolina, USA. Exporting to 14 countries, the company has twice been the recipient of a Queen’s Award for Export.


Excelsior Technologies site in Nelson, Lancashire



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