Yorkshire SME fund invests in Welsh packaging firm

SME fund managed by Yorkshire-based private equity house Endless, Enact, has invested in Deesides’ Excelsior Technologies alongside existing investor Growth Capital Partners.

Flexible packaging firm Excelsior has sites at Deeside in North Wales and Nelson in Lancashire.

The investment made by Enact is to enable Excelsior’s international growth.

Chris Cormack, who manages the Enact fund on behalf of Endless, joins the Excelsior board and will support the existing management team.

Enact is also in advanced discussions to appoint an experienced executive chairman to the company to shape and execute the business strategy.

Mr Cormack said: “We are pleased to have the opportunity to make this investment in a high quality packaging company with an excellent product and customer base. Excelsior needs additional funding to allow it to grow its business, and our understanding of the packaging sector will enable Endless to contribute to strategy as well as to provide funding.”

Nick Alexander, Excelsior’s chief executive, said: “Excelsior has capacity in gravure and flexo printed laminated films for food and confectionery packaging, medical films and stand up pouches.

“In recent years we have seen good growth in Europe and the United States and we have plans to grow further. This investment by the Endless Enact Fund, along with an agreed enlargement of our RBS facility, will make significant resources available for investment and to fund additional working capital.”