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Tax and Corporate specialists from Michelmores LLP have advised a group of Hereford-based businesses on a significant partial MBO.
Gelpack Excelsior and Gelpack Industrial have a combined turnover of £43m, making them one of the UK’s largest privately-owned extruders of flexible polyethylene packaging products servicing the automotive, healthcare and food sectors.
The deal saw the management teams acquire a stake in both companies from the owners, Azalee Management Corporation.
The Michelmores team comprised Corporate Finance Partner Richard Cobb, Director of Tax Brian Garner, Solicitor Andrew Feather and Legal Executive Caroline Lavis.
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