Mondi’s speciality division bought out in MBO

Mondi UK’s speciality division has been bought out by its management team and will now trade as Inspirepac.

The company has received a funding package for the management buy-out (MBO), worth £18m in total, from GE Commercial Finance and Modus Private Equity.

Modus has invested £8m, GE Capital’s investment consisted of a mix of invoice discounting, a plant and machinery facility together with a cash flow loan.

Inspirepac produces packaging for alcoholic drinks makers, such as Bacardi and Budweiser, is one of the UK’s leading providers in the industry.

It has premises in both Chesterfield and Wetherby and the business has a turnover of over £30m and employs 223 people.

Alan Goodall, chief executive of Inspirepac, led the MBO along with sales director Chris Marple and finance director Chris Munroe.

“Once we had agreed to the terms of the deal, Stuart Bates and his team at Business Finance, together with the Mike Rogan and Paul Newton at Modus Private Equity were a great help in efficiently structuring the finance package for the MBO,” Goodall said.

“Chadwick’s Corporate Finance Team led by Dermot Garvey demonstrated great professionalism in closing the deal.

“We now have an exciting opportunity to take the business forward – Inspirepac has plenty of potential, backed by a great workforce, quality assets and a good customer base.”

© Crimson Business Ltd. 2007


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