Tue, 10 Sep 2024 | BUSINESS SALE
Hamilton Adhesive Labels, a manufacturer of adhesive labels based in Leicestershire, has been acquired in a pre-pack deal after falling into administration. The company filed a notice of intention to appoint administrators (NOI) on August 22.
The firm subsequently fell into administration last week, with Rochelle Schofield and Mike Dillon of Leonard Curtis appointed as joint administrators of Hamilton Adhesive Labels September 3.
Upon their appointment, the joint administrators completed a pre-pack sale of Hamilton’s assets, including inventory, intellectual property and customer contracts, to retail paper roll and label specialist Schades, through the group's Ripley-based UK subsidiary.
The deal has secured all 74 jobs at the company, with the team being taken on by Schades. Jack Hugill, Managing Director of Schades’ UK business, told industry publication Print Week that the firm was “on the acquisition trail for label companies throughout Europe” to add to its existing operations in France and the UK.
Hugill added that, with Hamilton Adhesive Labels being based just 35 minutes away from Schades’ Ripley operation by road, the deal represented a good fit “both in respect to the quality of labels that Hamilton can produce, and in the fact that their customer base is similar to ours.”
Hugill said that the group was looking to make significant investments in the label market and that it was planning to retain as much of Hamilton’s staff as possible, with a number of employees having been at the company for 20 or 30 years.
He continued: “We plan to give Hamilton Schades all the investment it needs in the near future to become a very profitable and viable business.”
Speaking to Print Week, Schades Group CEO Jun Park said: “We are very pleased because the group is implementing a long-term transformation strategy to drive sustainable growth and the acquisition of Hamilton Adhesive Labels is a strategic fit, delivering significant synergies with our existing UK operations and strengthening the group’s label business capabilities. We made this acquisition through an exceptionally quick process with our own resource and strengths.”
Hamilton Adhesive Labels is based on the Bardon Hill Industrial estate and has worked with companies across a range of sectors, including pharmaceutical, household and personal care, fresh, chilled and frozen food, bakery, produce and food to go.
In its most recent accounts, for the year to October 31 2022, the company reported turnover of approximately £18 million, up from around £16 million a year earlier, and post-tax profits of around £345,000.
However, at the time, directors noted that the company’s margins “continued to be under pressure, with raw material price increases imposed by the major paper suppliers, often at short notice” which were “difficult to fully recover from customers.”
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