Leicester-based Nelsons a long standing packaging distributor, providing packaging for the food and industrial protective packaging sector, with a total of 22 employees.
Last year the company achieved revenues of almost £8m, EBITDA of approximately £900,000 and an operating profit of approximately £800,000. There is very little customer overlap with the Company’s existing customer base.
Macfarlane said the deal was in line with its strategy to develop its packaging distribution business in the UK protective packaging market, and was in conjunction with a proposed placing to raise approximately £5.8m before expenses.
Peter Atkinson, Macfarlane’s chief executive, said: “The addition of Nelsons Packaging to the Macfarlane Group is another significant step forward in our growth strategy. Nelsons is a high quality business and in addition to improving the Macfarlane presence in the East Midlands, the Nelson team bring specific expertise in corrugate packaging applications which will be of wider benefit to Macfarlane.”
Macfarlane acquired Glasgow-based Edward McNeil packaging division in a £2m deal.
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