A Bury-based packaging manufacturer has been acquired in a multimillion-pound deal by Beltline Capital, a Manchester firm established in April 2023. This acquisition advances Beltline’s buy-and-build strategy in the corrugated cardboard sector.
Arbuthnot Commercial Asset Based Lending (ACABL) structured a £2.25m funding package to support the purchase of Expert Packaging. This bespoke facility, comprising a confidential invoice discounting line and a term loan, provides necessary funding for the transaction and ensures additional working capital post-acquisition, complemented by fresh equity from a high net worth investor.
This deal follows Beltline’s acquisition of First Packaging Services and Leighton Packaging in late 2023, indicating a strategic expansion. Beltline identified Expert Packaging as a significant enhancement to its revenue and profit profile. Expert Packaging’s driven management team is expected to support the next phase of Beltline’s expansion.
Operating from three locations in the North West, including Expert Packaging’s newly refurbished 15,000 sq ft warehouse in Bury, the group offers a range of services from manufacturing to the wholesale of corrugated cardboard packaging, ancillaries, and consumables. Adam Crichton-Prince, Director of Expert Packaging, remarked, “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.” He added, “We are excited about the opportunities this new chapter brings for Expert Packaging and our customers.”
Andrew Rutherford, Commercial Director at Arbuthnot Commercial ABL, praised Beltline’s approach, stating, “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.” He added, “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.”
The acquisition of Expert Packaging by Beltline Capital represents a pivotal step in Beltline’s expansion strategy within the packaging sector, enhanced by a substantial funding package and support from Arbuthnot Commercial ABL.