De Pack bought up by PHS
The recycling company opts for a trade sale
Recycling company De Pack Ltd has been bought out by Personnel Hygiene Service (PHS).
The Leicestershire-based company was set-up just over two years ago by Catherine Crouch, Brian Mulholland and Martin Snaith who occupied the positions of managing director, sales director and technical director.
The three will remain with the company for the time being, although they have each sold all of their shares in the business.
De Pack gained over £800,000 of funding back in November 2004 to build a modern recycling facility at Wymeswold Business Park.
The plant uses compaction and gas-liquid separation technologies which means that no emissions are released into the atmosphere. Also, all waste product and packaging is recycled, or recovered and reused as fuel.
One of the investors, Catapult Venture Managers, said that today’s trade sale represents a ‘success story’ both for the De-Pack management team.
Catapult director Robin Jones, commented: “This clearly represents a very successful ‘start-up’ investment in which by backing a quality management team we have made an excellent return on investment in just over two years.
“PHS is a company with a good acquisition track record. The future for the De-Pack business looks very bright indeed.”
© Crimson Business Ltd. 2007