Tue, 28 Jun 2011 | MBO/MBI
Lincolnshire-based paper sack maker DS Smith Sacks has been acquired in a management buy-out deal, securing 83 jobs.
The deal was arranged by Queensgate Management, and involved DS Smith Sacks, a division of DS Smith, being bought by its managing director and finance director. The business’s name has been changed to Forum Packaging.
Jeremy Wetherall of Queensgate Management commented, “This is a great acquisition for everyone involved.”
“The business is profitable but it wasn’t part of DS Smith’s core strategic vision and with new investment, Forum Packaging will be able to move forward with confidence.”
Mark Spivey, managing director at Forum Packaging, is looking ahead to realise plans for expansion. “We’ll be looking at other acquisitions too and aiming to grow into other market sectors where we can”, he said.
“We’re very happy with the existing team and we’ve got a lot of experience here to drive the business forward; the people within the business were one of the main reasons why we bought it.”
The newly named business manufactures paper sacks and bags for the food, animal feed, cement and chemical industries. It is understood that £500,000 has already been put in for a new roof for the factory.
Bring to the market this leasehold specialist car sales and servicing facility located in Horncastle, Lincolnshire. The trade was established as a limited company in 2005.
LEASEHOLD
The company is an online vehicle purchasing platform, providing a fast, hassle-free car-selling service for the end user. A competitor to the likes of webuyanycar.com and Motorway, the company is a well-established online vehicle purchasing platform...
Bringing to the market this denim and casual wear retailer, boating a user friendly comprehensive online presence.
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