Northampton based packaging company Woodway Packaging Limited has been acquired by international distribution and outsourcing group Bunzl PLC in a deal supported by leading law firm Howes Percival and financial and business advisers Grant Thornton and MHA MacIntyre Hudson.
Founded in 1978, Woodway employs 70 staff across its six warehouses and is a key player in the e-commerce and third-party logistics sector with a strong reputation for offering bespoke packaging solutions.
Woodway has achieved rapid growth over recent years with a turnover of £31 million in the year ending June 2016.
Gerald Couldrake, from Howes Percival’s Northampton office, said: “Howes Percival has worked with Woodway and with the Inwood family for many years. We were delighted to be able to complete the sale to a very tight timescale, in conjunction with the corporate finance team at Grant Thornton and the tax and due diligence team at MHA Macintyre Hudson. The outcome is superb for both the Inwoods and for the business.”
Mike Hughes, from Grant Thornton’s Northampton office, commented: “Woodway is a fantastic business with a great reputation in the region. Through developing a strong relationship with the shareholders we ensured the transaction was completed smoothly. The deal represents an excellent outcome for all parties involved.”
Mike Hughes - Grant Thornton
Rachel Nutt, Tax Partner from MHA MacIntyre Hudson said: ‘We have acted for the company and the shareholders for many years and were proud to deliver a tax efficient structure for the business to maximise shareholder value, with my business partner, Elaine Olson-Williams supporting the client during the DD process its been a real team effort’.
The deal completes an incredibly successful 2016 for both the volume and size of corporate acquisitions and disposals advised on by Howes Percival’s Northampton Office, who also advised on the disposals Panther Warehousing Limited in April 2016 and Paragon Automotive Limited in July 2016. These transactions, together with the latest Woodway disposal demonstrate the breadth and depth of skills and experience to handle deals of this size that is available to the Northants business community from Howes Percival.