Macfarlane Group PLC (“Macfarlane”) is pleased to announce the acquisition of Ecopac (UK) Limited (“Ecopac”), a protective packaging distribution business based near Aylesbury, Buckinghamshire. The acquisition is in line with Macfarlane’s declared strategy of building the business through a combination of organic and acquisitive growth.
Macfarlane’s wholly-owned subsidiary, Macfarlane Group UK Limited, has acquired 100% of Ecopac for a maximum cash consideration of £3.9 million (including an earn-out of £0.8m). In the year ended 31 March 2018, Ecopac generated sales of £6.0 million and pre-tax profits of £0.5 million.
Ecopac focuses principally on customers within a close radius of its 60,000 sq. ft. facilities near Aylesbury and is expected to benefit from access to Macfarlane’s extended range of protective packaging products and services.
Ecopac has an experienced team of 21 employees all of whom will remain with the business following the acquisition.
Peter Atkinson, Chief Executive of Macfarlane, said:
“Ecopac is a well-run, profitable packaging business that meets our strict acquisition criteria and will be earnings-enhancing in its first full year in the Group. I am confident that the business will prove to be an excellent acquisition improving our geographic penetration and extending our customer reach.”