Based in Cheshire, Britton Group is one of the top 20 plastic packaging businesses in Europe, producing 80,000 tonnes of plastic products each year. The buyout supports existing management and provides for future expansion.
The management team will remain and retain a financial investment. John Durston and Allen Mawby – former deputy CEO and CFO respectively of Amcor Flexibles – have joined the board as chairman and non-executive director respectively. Private equity house LDC, which backed a £42m management buyout in 2004, has exited its position in Britton.
A Browne Jacobson team led by partner Gavin Cummings advised LDC and management. An Eversheds team, led by Catherine Eley, advised HSBC Private Equity, while DLA Piper’s team advised HSBC Leveraged Finance, which underwrote the senior and mezzanine debt package.