SAICA
Manufacturing, Packaging
Headpoint has advised Spanish multinational SAICA (Sociedad Anónima Industrias Celulosa Aragonesa) on the sale of three of its UK manufacturing plants to BoxWay Packaging Group Limited.
Deal Type
M&A, MBI
Value
Undisclosed
Sector
Manufacturing, Packaging
Year
2021
Country
UK, Spain
Supporting multinational corporates on non-core disposals and complex transitional service arrangements
After careful consideration as to the best option for its English sheet plants, SAICA decided to seek a new owner and appointed Headpoint to advise on the sale. The plants are located in Telford, Peterlee and Exeter and provide its corrugated packaging customers with a nationwide service.
BoxWay Packaging is a newly incorporated company under independent ownership and the management of industry leader, Andrew Woollard, who has nearly 40 years’ experience with Reed, Bowater, SCA, Smurfit Kappa and SAICA. Woollard will steer the growth strategy of BoxWay, which will be underpinned by a significant investment programme over the next three years. SAICA is one of the largest European players in the development and production of recycled paper for corrugated board producing 3.2 million tons of recycled paper and generating revenues of €2.8 billion annually. It has four business areas: production of recycled paper for corrugated board (Paper), waste management and environmental services (Natur), production of corrugated packaging (Pack) and flexible packaging (Flex). It has more than 10,000 employees across Spain, France, Italy, Portugal, UK, Ireland, Turkey, Luxembourg and The Netherlands.
The deal highlights Headpoint’s ability to work with the large multi-national corporates to support them on the disposal of non-core businesses, identifying the best partners going forward and navigating the carve out of operations, including negotiating complex transitional service arrangements.
The Headpoint team has worked closely with SAICA for many years on M&A projects across the paper and packaging industry.
SAICA is very confident that the new leadership and dedicated ownership promises a positive future for our customers, employees and the business at those plants. We remain committed to supporting the business and its three new sites after the transfer to ensure a smooth transition and ongoing growth.
Brian Lister, Country Manager, SAICA Pack UK
This project has achieved a great outcome for all parties and creates a very exciting future for the employees of the new BoxWay business. Corrugated packaging is a high growth industry driven by rapidly changing consumer behaviours and it is fitting that the sheet plants are now part of an agile and focused organisation.
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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