NorthEdge acquires Accrol for £66m

The firm invested in the company via its maiden fund, NorthEdge Fund I, which held its final close in April last year on its £225m hard-cap, having launched in June 2009 with a £200m target.

The deal marks the sixth investment made from the fund. The vehicle's most recent investment was in Utiligroup last month when the GP provided £11.1m in equity as part of the £16.1m deal.

NorthEdge's plans for Accrol include increasing the company's manufacturing capacity, hiring more staff and product development.

Company
Founded in 1993 and headquartered in Blackburn, Accrol manufactures soft paper products such as kitchen towels, toilet rolls, napkins and facial tissues. The company supplies both the branded and private label sectors.

Accrol has a manufacturing capacity of around 80,000 tonnes per year. It employs 300 staff and generates more than £100m in yearly turnover.

People
Majid Hussein is the CEO of Accrol; the Hussein family founded the business. NorthEdge investment director Tom Rowley and partners Ray Stenton and Dan Wright worked on the deal for the firm. Wright and Stenton are joining the company's board of directors.

Advisers
Equity – EY, Tim Morris, Emma Pickering (Corporate finance); KPMG, Steve Heath, Jo Taylor (Tax); Addleshaw Goddard, Paul Medlicott, Andy Green (Legal).
Company – PwC, Andy Parker, Wendy Mason (Corporate finance); Pinsent Masons, Helen Ridge, Andy Philips (Legal).

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

• Topics
• UK / Ireland
• Buyouts
• Consumer
• United Kingdom
• NorthEdge Capital