LDC unpacks £100m from Benson sale

LDC backed the management buyout of the UK packaging company in January 2012, using funds from its £200m allocation to manufacturing and specialist engineering. Debt was provided by Lloyds Bank and HSBC.

Since investing, LDC stated it has supported the management team in improving the company's production pace. The business has also invested in its infrastructure through the purchases of new machinery.

Company
Established in the 1920s, Benson manufactures printed folding carton board packaging for the food retail sector. It also supplies cartons, patient information leaflets and labels for pharmaceutical companies in the UK and Europe.

Customers include Two Sisters Food Group, Reckitt Benckiser and Greencore. 

The business employs 900 people across its head office in Leicestershire and its manufacturing sites in Newcastle and Crewe.

Benson generated turnover of £120m for the last financial year, up from £108m when LDC initially invested. 

People
The deal was led by LDC chief investment officer Martin Draper and investment director Andy Gove. Mark Kerridge is managing director of Benson.

Advisers
Vendor – Eversheds (Legal).

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

• Topics
• UK / Ireland
• Exits
• Industrials
• LDC
• United Kingdom