Woodway Packaging Limited (Woodway) is a leading supplier of both packaging products and solutions throughout the UK, specialising in the e-commerce and third party logistics sectors.
The company also provides bespoke value-added services to customers through its specialist teams, working in collaboration with customers to offer a total solution for their packaging needs.
Founded in 1978, the company has experienced fast growth over the last few years, with turnover of circa £31 million in the year ended June 2016, presenting itself as an attractive acquisition proposition.
Bunzl plc (Bunzl) are a large international distribution and outsourcing group who are highly acquisitive. The group is listed on the FTSE100 with a market capitalisation of circa £7 billion.
Having built a good relationship with the shareholders, we were engaged to advise on the disposal having demonstrated strong credentials in the packaging sector.
The Corporate Finance team led the transaction throughout the process. This included preparing a sales document, leading negotiations with a limited number of selected buyers to drive up value, managing the diligence process and advising on the legal documents through to completion.
Local deal experience, alongside significant sector credentials and knowledge of the business allowed the Corporate Finance team to run a very efficient process.
We focussed the process on a select group of quality buyers who the team knew would be interested in the business. This approach allowed the business to secure attractive initial offers and drive competitive tension to negotiate up the value for the shareholders and deliver a great result.
Mike and his team produced a fantastic outcome for the shareholders, exceeding our expectations. Their knowledge of our industry, alongside their transactional experience was invaluable. They really went the extra mile for us, and I would recommend them as an adviser.
Jason Inwood Managing Director, Woodway Packaging Limited
