Sunday, December 4, 2022

Management buy-in for Yorkshire box manufacturer following multi-million pound investment

Bradford-based box manufacturer ASC Cartons has received a £2.1million investment from Frontier Development Capital (FDC) to part fund a management buy-in (MBI) of the firm.

The MBI will see GIL Investments and chairman of Sandland Packaging Limited, Robin Welch, take the helm of the bespoke box manufacturer. Celia McKrieth-Deane moves into the role of commercial director and Ashley Power joins the board as operations director. Both Andrew Woodhead and Karl Wilson remain with the business in advisory roles.

ASC Cartons was established over 40 years ago and specialises in the creation of high-quality corrugated boxes for a wide range of applications across the UK. The firm operates from a 50,000 sq ft site.

Robin Welch, chairman, said: “This MBI starts an exciting new chapter for ASC Cartons and we’re thrilled to be getting involved at such a pivotal time for the business. We are planning to continue developing the business alongside the current management team and hone in on the growing appeal of cardboard as a sustainable packaging option.

“The debt funding provided by Frontier Development Capital helped us to realise our aims and coordinate a smooth deal. We look forward to bringing our combined experience together and help continue to grow and seize the opportunities ahead.”

Simon Kelsall, investment director at Frontier Development Capital, said: “ASC Cartons has a proud history and strong track record, with the success of its online presence and well-established customer base offering robust platforms for further growth.

“FDC prides itself on providing flexible debt funding to ambitious mid-market SMEs across the country and supporting this MBI reflects this commitment. We look forward to continuing our partnership with ASC Cartons as it looks to seize upcoming growth opportunities afforded by the changing consumer spending habits.”

FDC supports mid-market SME businesses across the country with debt funding between £1million and £20million.

Advisors that also worked on the transaction were Scofield Sweeny (Legal) & Naylor Wintersgill (Accountancy), as well as Lucy Freeman (Wilkes), Graham Spalding (Lodders) and Pippa Hawkes (BSN).

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemichaving a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £31.50 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.




Latest news

Related news

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close