Hanmere acquires Plasmech
HMT LLP advised Chiltern Capital’s portfolio company Hanmere Polythene on their acquisition of Plasmech Packaging Ltd, an expert in polythene film extrusion and polythene bag manufacturing.
Based in Hitchin, Hertfordshire, less than 5 miles from Hanmere, Plasmech offers a strong product, customer and supplier fit with the enlarged group, and its acquisition supports Chiltern’s strategy to create a pan-European flexible packaging group focussed primarily on end markets in food, food processing, hygiene and personal care..
Plasmech was acquired from exiting founder, Keith Bartlett, and Managing Director, Kevin Emmerson, who will remain with the business.
This bolt-on is in line with Chiltern’s investment strategy of actively supporting its management teams to grow their businesses both organically and through acquisition.
HMT undertook financial due diligence for Chiltern and Hanmere on this transaction.
David Butler, Investment Manager at Chiltern commented:
“The HMT team were proactive, engaged and thorough throughout the Plasmech process. Their advice was as clear and concise as always, and they were highly flexible in delivering their report to meet our requirements. We look forward to working with them again in the future..”
Paul Read commented:
“We are delighted to have advised Chiltern and Hanmere on their first bolt-on acquisition since the MBO. The business has become the UK’s most highly regarded manufacturers of recyclable polythene packaging products and with Chiltern’s support, Hanmere will be able to reach their ambitious growth goals and further their expansion strategy.”
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