Packaging Supplier Snapped Up by European Group

A Newport-based packaging manufacturer which supplies its products to a range of sectors has been acquired by a European group.Established in 1999 by Alan Heath as a stockist of solidboard boxes, Heathpak now manufactures solidboard and corrugated packaging from its 65,000 sq ft factory in South Wales, supplemented by a warehouse in Grimsby. Commercial Director Lyndon Whitlock joined Heathpak in 2004 which has have since expanded to a £16m-turnover business with a growing team of more than 50 staff.The company’s packaging is used in sectors including meat, fish, poultry, horticultural and industrial.Solidus Solutions, a sustainable fibre-based packaging provider for food and beverage, consumer goods and industrial applications, has acquired Heathpak in an investment designed to further expand its operations and broaden its product portfolio. It is the Netherlands-headquartered company’s first UK acquisition since its €330m takeover by Centerbridge in 2019.Lyndon Whitlock is joining the Solidus Group and will continue leading Heathpak, with John Curran, Solidus’ managing director for the UK, assuming overall responsibility of Solidus’ operations in the UK.Gambit Corporate Finance acted as lead advisor to the shareholders of Heahtpak on negotiating and structuring the transaction. The Gambit team was led by Frank Holmes (partner), Sam Forman (associate director) and Oliver Jarman (analyst).Acuity Law advised Heathpak and its team comprised Paul Lowe, Tom Saunderson and Chiara Howfield.Freeths and KPMG supported Solidus on the deal.