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Expansion all wrapped up following MBO at Leeds packaging firm PDF Print E-mail
Friday, 28 August 2015

Leeds-based Greyhound Box and Packaging is increasing its work force by more than a tenth, following a management buyout in June.

The business specialises in the design and manufacturer of corrugated card board boxes, creating a range of bespoke packaging that can be produced to a customer’s exact specifications and requirements. 
 
New owner Louise O’Brien will be creating four new positions in the sales and operations team, as she starts to implement her growth plans for the company. 

The expansion comes after she took over the firm from founder Ian Jenner, having previously worked as a general manager at the business for more than 13 years.
 
The deal was funded by a six-figure working capital facility from Lloyds Bank, which was used to support the company’s transition to Louise. Lloyds Bank relationship managers Charlotte Jackson and Ian Whitworth provided guidance and support throughout the acquisition, and the process managed by Peter Hindle-Marsh from Spadina Capital.
 
As a result of the expansion the company’s turnover is expected to rise by 15 per cent, achieving a target of £4 million by the end of the current financial year.
 
Louise said: “Having worked at the business for more than 13 years I have a thorough understanding of the company’s strengths, and how we can develop these in order to drive growth over the next 12 months.
 
“Increasing staff numbers in sales and operations is a key way to achieve this, and the new employees will be working closely with our in-house design team to help promote the innovative new products that we are creating on-site.
 
“We are also dedicated to supporting and developing our staff, and as a result of this we have achieved the Gold Standard Investment in People’s status.”
 
Charlotte Jackson, regional manager at Lloyds Bank Commercial Finance, said: “We worked closely with Louise to identify a funding package that would help her to acquire the firm, providing a working capital facility that would also enable her to build on the company’s success and help it to expand.
 
“An ambitious management team is essential to a business’ success, and we’re looking forward to working closely with Louise and the team as they grow the company over the coming years.”

(Source - Lloyds Bank Commercial Banking Press Release)
 

 

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