Macfarlane Group PLC Acquisition of B&D 2010 Group Limited (2585O)
October 02 2023 - 1:00AM
UK Regulatory
TIDMMACF
RNS Number : 2585O
Macfarlane Group PLC
02 October 2023
2 October 2023
Macfarlane Group PLC
("Macfarlane Group", "Macfarlane")
Acquisition of specialist protective packaging business
B&D
Macfarlane announces the acquisition of B&D 2010 Group
Limited ("B&D"), a specialist protective packaging business
based in the South of England. This earnings enhancing acquisition
is in line with Macfarlane's stated strategy of building its
protective packaging business through a combination of organic and
acquisitive growth.
B&D is a well-established business employing 15 staff and
supplying customers in the growing aerospace, defence and space
sectors, throughout the UK and internationally, from its facility
in Southampton. There are significant opportunities to provide
B&D's existing customers with additional packaging solutions
and to also develop new customers in the sectors within which
B&D specialises.
For the year ended 31 December 2022, B&D generated sales of
GBP2.6 million and an adjusted EBITDA of GBP0.5 million, with
strong growth in 2023 year-to-date.
Macfarlane's wholly-owned subsidiary, Macfarlane Group UK
Limited, has acquired 100% of B&D for a maximum cash
consideration of GBP3.85 million (including an earn-out of up to
GBP0.55 million based on agreed profit growth target over one
year).
The consideration is being financed entirely from the Group's
existing GBP35.0 million bank facility.
Peter Atkinson, Chief Executive of Macfarlane, said:
"B&D is an excellent business servicing high quality
customers in attractive growth sectors and complements Macfarlane's
existing specialist protective packaging activities. We look
forward to working with the team at B&D to support its
continued growth."
Further enquiries: Macfarlane Group Tel: 0141 333 9666
Peter Atkinson Chief Executive
------------------------------- -------------------
Ivor Gray Finance Director
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Spreng Thomson Tel: 0141 548 5191
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Callum Spreng Mob: 07803 970103
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Legal Entity Identifier (LEI): 213800LVRYDERSJAAZ73
Notes to Editors:
-- Macfarlane Group PLC has been listed on the Premium segment
of the Main Market of the London Stock Exchange (LSE: MACF) since
1973 with over 70 years' experience in the UK packaging
industry.
-- Through its two divisions , Macfarlane Group services a broad
range of business customers, supplying them with high quality
protective packaging products which help customers reduce supply
chain costs, improve operational efficiencies and enhance their
brand presentation. The divisions are:
o Packaging Distribution - Macfarlane Packaging Distribution is
the leading UK distributor of a comprehensive range of protective
packaging products; and
o Manufacturing Operations - Macfarlane Design and Manufacture
who design and produce protective packaging for high value and
fragile products.
-- Headquartered in Glasgow, Scotland, Macfarlane Group employs
over 1,000 people at 37 sites, principally in the UK, as well as in
Ireland, Germany and the Netherlands.
-- Macfarlane Group supplies more than 20,000 customers ,
principally in the UK and Europe.
-- In partnership with 1,700 suppliers, Macfarlane Group
distributes and manufactures 600,000+ lines supplying to a wide
range of sectors, including: retail e-commerce; consumer goods;
food; logistics; mail order; electronics; defence; medical;
automotive; and aerospace.
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END
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