ESP
Manufacturing, Hygiene
Headpoint Advisors has advised Carl Theakston, the founder and Chairman of Essential Supply Products Limited (ESP) on its sale to Italian company Lucart Group for an undisclosed sum. This is Lucart’s first acquisition in the UK.
Deal Type
M&A
Value
Undisclosed
Sector
Manufacturing, Hygiene
Year
2021
Country
UK, Italy
A proven track record advising family-owned businesses
Malvern based ESP was established by Carl in 1990 and has grown to become the UK’s leading independent manufacturer of professional hygiene products. ESP is a converter of disposable tissue paper products and supplier of dispenser systems to wholesale distributors, who in turn, serve the Away from Home (AFH), non-consumer market. The current manufacturing plant was set up in 2017 and is spread over an area of 20 acres. The company employs 85 people on five different processing lines and generates revenues in excess of £25m annually.
Lucart is a family-owned company who share the same key values as ESP, with a strong emphasis on protecting the environment and offering consistent, high quality products. It is the second largest AFH manufacturer in Europe. Founded in Italy in 1953, with headquarters in Lucca, Tuscany. Lucart has 12 paper mills and over 55 converting lines located in Italy, France, Hungary, Spain and now the UK. It employs 1,685 staff and generated revenues of €670m in 2020.
Headpoint was appointed because of our track record of working successfully with family-owned businesses and our experience in the paper industry, based on circular economy principles.
Over the years, we have made numerous transactions to allow ESP to continue to compete at the highest level. However, I realised that the standard of investment required to make my ambitions for this company a reality needed an investor who shared ESP's family values and had the vision and desire to grow the company sustainably and to its full potential. Lucart is a family-owned multinational group that has been operating for 68 years. Its history, vision and commitment to sustainable development models make it the ideal investor for ESP's adventure to continue in the best possible way.
Carl Theakston, founder and Chairman, Essential Supply Products Limited (ESP)
We are delighted to have advised Carl on the deal with Lucart. The businesses have a relationship that goes back many years so the strong rationale of a sale to Lucart was evident. We are very pleased to have negotiated a transaction structure that worked for Carl and for Lucart and delivered the deal as planned.
Headpoint Advisors is a founder-led corporate finance firm advising business owners, investors and management teams on company sales, acquisitions and growth capital. With offices in Birmingham, London and Reading, Headpoint combines partner-led delivery with deep sector expertise and international reach.
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