The UK’s largest independent supplier of corrugated packaging has attracted a major investment in a deal brokered by Grant Thornton’s corporate finance team in the Midlands.
Directors of Leicestershire-headquartered Logson Group, which has a turnover of more than £185 million, have sold a majority stake in the business to Belfast based W&R Barnett for an undisclosed sum.
Started in 2005 by Ian Loggie and Mike Stephenson, the Logson Group consists of four brands, Board 24, Boxes and Packaging, Jardin Corrugated Cases and Cases 24, which offer a range of packaging solutions from 17 UK locations, including Leicester and Birmingham.
Grant Thornton’s corporate finance team was led by Mustafa Abdulhusein working alongside Maria Thomas, Gemma Hardy and Peter Evans.
Mr Abdulhusein said: “In just ten years Logson has established itself as the UK’s largest independent supplier of corrugated packaging with a very promising future. By working closely with the shareholders over the years and understanding their ambitions we were able to identify an opportunity for W&R Barnett to make this strategic investment which will enable Logson to move to its next stage of development.”
Logson Group CEO Alex Kelly, who will also join the W&R Barnett board, said: “W&R Barnett’s investment offers long term clarity to all our stakeholders – employees, customers and suppliers.
“This deal reinforces the core values of our business, fiercely independent, entrepreneurial leadership and an appetite for growth.
“It is very much business as usual, the future is very bright and I am delighted that the Logson senior team have been given the opportunity to invest in the new structure.”
W&R Barnett is a family business that was founded in 1896.