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Investec Growth & Acquisition Finance provides debt package to refinance the acquisition bridge provided by an affiliate of Sun European Partners LLP for the acquisition of Britton Flexibles Ltd


Following the acquisition of Britton Flexibles Ltd last month by an affiliate of Sun European Partners LLP, Investec Growth & Acquisition Finance has provided a £65 million senior debt facility including a blend of revolving and amortising term facilities, on an underwrite and single hold basis, to refinance the acquisition bridge provided by Sun.

Britton Flexibles is a leading provider of flexible packaging solutions in the UK with extrusion, printing, lamination, and conversion capabilities that serve a variety of end markets. Products include cereal liner film, printed shrink wrap film and banking coin bags which are produced at three facilities in Northern England, including the largest film extrusion site and the largest integrated flexographic printing facility in the UK. Britton Flexibles has its headquarters in Winsford, Cheshire and further factories in Louth, Lincolnshire and Hartlepool. It employs around 650 people across the three sites and had a turnover of £153 million in the year to April 2011.

Britton Flexibles is part of the new pan-European flexible packaging specialist, the Britton Group, which includes two other existing affiliates of Sun European Partners, LLP, Reuther Verpackung GmbH & Co. KG and Veriplast Solutions.

James Cullen of Investec commented: “We are delighted to support this transaction and the business’s growth plan going forward. Management has done a great job in positioning Britton as a leader in its field. We have a high regard for the team at Sun and for the Britton Flexibles Management team and from day one, believed that the combination of Sun’s wider presence in the packaging market with this new addition is thoroughly compelling.“