Mercury PE Makes A Clean Deal –

Mercury Private Equity has sold Braitrim Holdings to Spotless Group Ltd. for EURO180 million in cash. The firm acquired a majority stake in Braitrim in February 1998 and also provided the company with expansion capital, valuing the transaction in excess of GBP85 million.

Braitrim provides complete design and project management solutions for retail packaging worldwide. It offers clients fully managed service for the supply chain, from design to delivery, including hangers, labelling, and bespoke product packaging. Since it was acquired by Mercury Private Equity, the company has grown revenues from EURO80 million to EURO150 million and has diversified its client base through aggressive growth in Germany, France, Scandinavia and Hong Kong.

Nick Martin, director of Mercury Private Equity, said: “Braitrim has grown strongly and profitably during an unexpectedly difficult period for European retailing. The Braitrim management has achieved this by developing its unique one-stop, value-added service approach to the supply chain management needs of its clients and by building its customer base across Europe and its global supply network.”

Spotless is an Australian quoted business to business service group with a current turnover of euros900 million and a market value of some euro675 million. Peter Wilson, chief executive officer, plastics division, Spotless Group said that there is a strong complimentary nature to both businesses.