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Packaging company bags share deal
20/11/2007

A Salford-based printing company has been bought out by one of Europe`s leading packaging firms.
Excelsior Technologies Ltd ("Excelsior"), which is based in Flint, north Wales, has purchased Omni Flexibles Ltd, which manufactures flexible packaging for household names such as Haribo and Persil.
Excelsior, which operates across Europe and the US, specialises in microwave steam cooking packaging for large multi-nationals and blue chip companies, such as Birds Eye and SC Johnson.
The deal will take the combined group revenue to £40m, confirming Excelsior as the UK's largest independent producer of flexible packaging.
Dave Moorcroft, Managing Director of Excelsior, said `This is a strategic acquisition which will enhance our internal printing capacity in order to support the rapid growth we are experiencing. We will certainly be looking to expand the Salford operation during the course of 2008.î
Paul Morton and Alex Loukaides, of BTG McInnes Corporate Finance LLP, provided corporate finance advice to Excelsior.
Tony Harper and Caroline Litchfield, corporate partners at Manchester-based Brabners Chaffe Street LLP, led a team ñ including solicitors Simon Lewis, Tamsin Eastwood and Matthew O'Brien ñ which advised Excelsior on the share purchase deal.
Mr Harper said: `Excelsior Technologies operate worldwide and are market leaders in the packaging industry. The purchase of Omni Flexibles allows them to expand their business even further and we are delighted to have been involved in such an important deal for the future of their company.
`We are working on an increasing number of acquisitions of this nature, which is a great sign of the continued buoyancy of the market in the North West.î
Excelsior was funded by Enterprise Finance Europe and the Bank of Scotland. Other advisors on the deal included Browne Jacobson LLP, which acted for the Sellers and DWF for the Bank of Scotland .


For further information contact Tony Harper at Brabners Chaffe Street on 0161 836 8800

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