Investee Company – Coppice Group Ltd (UK)
Investee Company Business Type – Manufactures and supplies aluminium foil containers
Type of Financing – MBO
Equity Providers – Lloyds TSB Development Capital
Equity Leader (Individual) – Clive John
Debt Providers – Lloyds TSB Acquisition Finance, Lloyds TSB Commercial Finance
Debt Type – Senior Debt/Working Capital
Debt Leader (Individual) – N/A
Equity Amount – Undisclosed
Total Deal Value – Undisclosed
Other Advisors – Fladgate Fielder, CMS Cameron, EMW Law, Taylor Johnson Garrett (legal), KPMG (corporate finance)
Comments – Coppice Group Ltd, an aluminium foil container producer has been acquired by its management team from Rutland Trust PLC. The deal was backed by Lloyds TSB through its development capital, acquisition finance and commercial finance divisions. The deal value was not disclosed.
Established in 1982, EstCoppice is based near Bridgend in South Wales and employs 160 people. The company manufactures and supplies aluminium and board containers to the food industry. Coppice won the ‘Metal Packaging Supplier Of The Year’ award at Pakex 2001, and has achieved the highest level of food hygiene certification achievable within the Food Processing industry, the American Institute Of Bakers’ ‘Superior Status’ certificate. The business has annual sales of approximately £18 million.
Doug Hind, managing director of Coppice Group commented: “The backing from Lloyds TSB will enable further investment to go into our state of the art factory as well as accelerate new product development, a key part of our strategy. This will benefit our customers in the food processing and bakery sectors who require high levels of service to help them meet rapidly fluctuating demand requirements.”