GCP backs MBO of Excelsior Technologies

Bank of Ireland UK provided working capital and asset-based lending facilities for the transaction.

Company
Excelsior is a north Wales-based packaging business, specialising in food and medical packaging, including high temperature and microwaveable packaging solutions. Excelsior's customers include Birds Eye, Haribo, Premier Foods and SC Johnson. It exports to 14 countries.

The company is expected to reach a £44m turnover in 2012. It employs 200 people across four plants, two of which are located in Deeside, one in Lancashire and one in North Carolina. 

People
Garrett Curran led the deal on behalf of GCP and will be joining Excelsior's board. He worked on the deal with Simon Jobson and Richard Shaw of GCP. David Chell, director, led the transaction for Bank of Ireland UK. David Moorcroft is the company's managing director.

Advisers
Equity – Livingstone Partners, Phillip McCreanor, Alex John (Corporate finance); Osborne Clarke, Alisdair Livingstone, Alison Meaken, Hugh Jones, Simon Jones, Michael Bell, Victoria Clarke, Daniel Barnhouse (Legal); Eversheds, Richard Moulton, Alasdair Outhwaite, Victoria Ross (Legal); RSM Tenon, Nick Williams, Peter Vandervelde, Steve Jacob, Phillip Rossiter (Financial due diligence); CiL, Jonathan Whiteman, Liam McGuinness (Commercial due diligence); ERM, Max Griffin, Nick Biagetti (Environmental due diligence); Tyler Mangan, Jonathan Chocqueel-Mangan (Management due diligence); Marsh, Laura Reed (Insurance due diligence); Bank of Ireland, David Chell (Debt advisory).
Vendor – Brabners Chaffe Street, Tony Harper, Denise Walker (Legal). 

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• Topics
• Buyouts
• Industrials
• UK / Ireland
• United Kingdom