Growth Capital Partners exits UK-based Wrap Film Systems Ltd to German Melitta Group-owned Cofresco
Growth Capital Partners (GCP), the mid-market private equity firm, has realised its investment in Wrap Film Systems Limited (Wrap Film), the UK’s leading cling film and aluminium foil converter to the food and retail sector. The GCP exit will see Wrap Film become part of Cofresco Frischhalteprodukte GmbH & Co KG (Cofresco), a company of the Melitta Group based in Germany.
Based in Telford, Shropshire, Wrap Film employs a workforce of 300. Supplying the catering, hospitality and retail sectors, it is the company behind the Wrapmaster and Caterwarp brands, as well as the UK’s leading retail food wrap brand, Bacofoil.
GCP invested in Wrap Film in 2007 and since the MBO has seen sales and EBITDA double.
Garrett Curran, Managing Partner at Growth Capital Partners said:
“GCP are delighted to have partnered and supported the senior team at Wrap Film since the MBO in 2007. This acquisition by Cofresco will see the company become part of a strong professional international Group and will take them on to the next stage of growth and development.”
Cofresco see the acquisition as a key component for growth and their long-term aim of augmenting their market position internationally.
Pieter van Halewijn, Managing Director of Cofresco said:
“We are already greatly looking forward to working together with the new team and warmly welcome Wrap Film to our portfolio of dynamic brands.”
Adrian Brown, CEO of Wrap Film said:
“The support of GCP over the past few years has seen our business grow and develop its dominant UK presence. Now being part of a strong privately owned international Group will provide Wrap Film with greater expertise and investment to help us generate further growth over the next few years”
Source: Growth Capital Partners Press Release