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Financial consultant FRP Corporate Finance has advised the shareholders of Suttons Performance Packaging on a £13.7m trade sale to Macfarlane Group PLC.
The packaging manufacturing business was founded in 1962 and provides protective packaging solutions for high-value products, particularly electronics, audio and medical devices. Currently the business employs 55 people and has a turnover of £7m.
Glasgow-based Macfarlane is the UK’s largest packaging supplier, which serves more than 20,000 customers across the country and Europe, including the industrial sectors. The business started growing rapidly via acquisitive growth of other companies, such as the Germany-based protective packaging company PackMann which Macfarlane bought in 2022. Now, a possible deal with Suttons Performance Packaging is pending.
Simon Sutton, managing director at Suttons, said: “This strategic transaction will provide significant opportunities for Suttons to continue to expand its teams and product portfolio. Suttons will now be part of a larger packaging group that continues to expand across the UK and Europe, so it’s a significant milestone for our teams.”
The deal will further support the future growth of both companies by providing their customers with a wider range of packaging solutions. Suttons directors will also remain with the group following its acquisition.
FRP Corporate Finance team, led by director Ryan Symonds, provided advisory services to Suttons throughout the deal, from sourcing the acquirer to the sales process completion.
Commenting on the deal, Symonds said: “Suttons is a market leader in the protective packing industry, and has created a niche service offering which is highly complementary to Macfarlane’s growth strategy. The deal represents an exciting next stage for the business, and comes as Macfarlane continues to grow organically and through acquisitions.
“We are pleased to have represented the shareholders on their exit and congratulate Simon, John and the wider management team on building a successful business.”
