Meal Deal

  • mar. 2007

Nicholl Food Packaging of Cannock – the largest aluminium
foil container manufacturer in the UK – has been sold to its
management team and private equity partners in a deal lead by
Philip McCreanor at Livingstone.

Founded in 1989, Nicholl has grown from a start-up with a single UK
factory to become the largest and most profitable supplier of
aluminium foil containers to the European food sector, with sites
in the UK, France and Belgium. The company supplies many blue-chip
food producers, supermarkets and bakers, as well as serving the
European takeaway market.

In the early summer of 2006, Wilson Nicholl, the company’s
founder and chairman, and fellow shareholder Roy Dixon decided to
plan for the next stage in Nicholl’s evolution. Phillip
McCreanor, head of Livingstone’s industrial sector, received
a phone call from the shareholders at this point. “I
have had a relationship with Nicholl for a number of years, and
have been monitoring their progress and have enjoyed watching them
develop one of the best business platforms in the
sector”.

A select group of potential trade and private equity buyers were
introduced to the opportunity, based on specific criteria related
to the type of deal Nicholl was looking for.“We
pre-selected people who had an interest in the packaging space and
could bring something different to the table”,

McCreanor says.

In the end, however, the Audax team saw the potential that existed
for developing further value through worldwide expansion of the
company’s products. McCreanor and his team worked hard to
bring the sale to a successful conclusion in November 2006.

McCreanor is delighted with the outcome for both Nicholl and the
shareholders. “We have achieved a fair price for the
business which reflects its future prospects and market position.
Management have found a good home for the business and shareholders
who are committed to building the company throughout Europe and
North America”.

Phillip McCreanor, Director
Tel: 020 7484 4725
pmccreanor@livingstonepartners.co.uk

Graham Carberry, Deal Leader
Tel: 020 7484 4728
gcarberry@livingstonepartners.co.uk


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