In a significant development, a Bury-based packaging manufacturer, Expert Packaging, has been acquired in a multimillion-pound deal by Beltline Capital, a Manchester business incorporated only in April 2023.
Arbuthnot Commercial Asset Based Lending (ACABL) structured a £2.25m funding package to facilitate Beltline’s purchase of Expert Packaging. This funding arrangement, which includes a confidential invoice discounting line and term loan, not only covers the transaction but also ensures additional working capital post-acquisition. This financial package is complemented by fresh equity from a high net worth investor.
This acquisition follows Beltline’s earlier purchase of First Packaging Services and Leighton Packaging in late 2023. Beltline identified Expert Packaging as a pivotal addition to its portfolio, enhancing its revenue and profit potential significantly. The acquisition is also poised to bolster the group’s buy-and-build strategy within the corrugated cardboard sector.
Operating from three locations in the North West, including Expert Packaging’s newly refurbished 15,000 sq ft warehouse in Bury, Beltline Capital offers a comprehensive range of services. These services encompass manufacturing and wholesale of corrugated cardboard packaging, ancillaries, and consumables.
Adam Crichton-Prince, Director of Expert Packaging, shared his enthusiasm about the acquisition. “Now, as part of a larger group, we’re in a strong position to build on our £8m turnover and continue our growth trajectory. Our success is founded on exceptional customer service, and this acquisition will allow us to work with other businesses in the group to drive further growth.”
Andrew Rutherford, Commercial Director at Arbuthnot Commercial ABL, expressed his approval of the acquisition. He remarked, “Beltline Capital’s visionary approach to creating a diverse group of specialised companies in the packaging sector is exciting. The acquisition of Expert Packaging, with its strong customer service ethos and impressive growth, is a perfect fit for this strategy.”
Rutherford further noted, “We have always thrilled to support buy-and-build transactions that enable groups to expand their service offerings and extend their geographical reach. Our facilities provide Beltline with the additional headroom to proceed with further acquisitions, and we look forward to fuelling their buy-and-build strategy in the years to come.”
This acquisition marks a strategic advancement for Beltline Capital as it continues to expand its footprint in the packaging sector. With strong financial backing and a clear vision, the group appears well-positioned for sustained growth.