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Unquote
  • Exits

Endless-backed Adare sells subsidiary to Americk

  • Greg Gille
  • Greg Gille
  • @unquotenews
  • 19 November 2015
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Adare Group, a UK-based marketing and secure communications business backed by Endless, has sold its packaging division to trade player Americk Packaging.

Endless backed the £60m management buyout of Adare in early 2015. HSBC provided acquisition finance to support the deal. At the time of the acquisition, the company was set to undertake a global expansion strategy, which would include bolt-on acquisitions. Endless also stated the business would seek to increase its headcount and invest in new technology and infrastructure.

The company undertook a strategic review of its activities following the MBO, which ultimately highlighted that the packaging division, Adare Advantage, was not core to the group's marketing and communication services focus.

Adare Group

  • DEAL:

    Partial exit

  • LOCATION:

    Huddersfield

  • SECTOR:

    Containers & packaging

  • FOUNDED:

    1991

  • VENDOR:

    Endless

The transaction is expected to allow Irish packaging company Americk to reach a €140m turnover for 2015.

Company
Headquartered in Huddersfield, West Yorkshire, Adare provides marketing and secure communications services to organisations in both the public and private sector. The business, which currently operates in 50 locations throughout four continents, had a combined turnover of £170m at the time of the MBO earlier this year. It was founded in 1991.

People
Chris Clegg, Michael Rice, James Woolley, Kerry Battiscombe, Matthew Jubb and Stefan Nowakowski led the original Adare deal for Endless.

Advisers
Company – Livingstone Partners (M&A); Gordons (Legal); KPMG (Tax).

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