Endless and GCP sell Excelsior to Mondi for £33m

The business has been rebranded as Mondi Consumer Goods Packaging following the deal, according to publicly available documents.

Since Endless's investment in the business two years ago, Excelsior has appointed Paul Thomas as operations director; Thomas subsequently oversaw the redevelopment of the company's site in Nelson, Lancashire.

Endless's investment in the business was made from the £10m Enact vehicle.

Previous funding
GCP supported the management buyout of Excelsior in June 2012, in a deal valued at between £20-40m.

Endless then invested in the company alongside GCP in December 2014 in order to fund its plans to increase sales across Europe and the US. Endless drew down capital from Enact to fund the deal, while RBS increased the company's debt facility as part of the transaction.

Company
Headquartered in Deeside, north Wales, Excelsior is a packaging business specialising in food and medical packaging, including high temperature and microwaveable packaging products. The business has additional operations in Nelson, Lancashire, and generated revenues of £39m in 2016, according to a statement issued by the trade buyer. It posted gross profits of £1.2m in 2015, according to publicly available documents, from a turnover of £34.49m.

People
Excelsior Technologies – Keith Chapman (executive chairperson).
Mondi – Peter Oswald (CEO).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• UK / Ireland
• Industrials
• United Kingdom
• Endless
• Growth Capital Partners (aka Close Growth Capital)
• Trade sale