Excelsior MBO gets private equity support
By Anthony Clark
Posted 28 June 2012
Private equity provider GCP has backed the MBO of Excelsior Technologies, a North Wales based flexible packaging manufacturer, from its North American shareholder. The value of the deal was not disclosed.
Excelsior designs and manufactures a range of packaging products for blue chip clients across the food and medical packaging sectors, including Birds Eye, Haribo, Premier Foods and SC Johnson.
Garrett Curran, who led the deal for GCP and who also joined the board, said: “In Excelsior we are backing an excellent management team led by David Moorcroft and are supporting the UK manufacturing industry.
“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.”
Excelsior, which has a turnover forecast of £44m, has operations in the UK and US and exports to 14 countries. It specialises in microwaveable packaging, producing more than 600 million microwave packs per year.
Packaging award is high point for Excelsior
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