Partial PPP exit for BPE

LDC is backing the buyout of Paragon Print and Packaging Limited (PPP) in what will also be a partial realization for Barclays Private Equity, which made an initial undisclosed investment in 2001. BPE has re-invested funds alongside LDC to support the continued development of the business. Financial details of the transaction were not disclosed.

PPP is an independent provider of self adhesive labels, printed film and cardboard sleeves to the chilled and fresh foods industry. The business has developed both organically and by acquisition under the guidance of managing director, Tony Lennon. It was founded in 1994 and now has a turnover of around £80m.

Andrew Murtagh, director of Barclays Private Equity, said: “PPP has performed exceptionally since 2001 having made three acquisitions as well as expanding premises and upgrading equipment to facilitate continued growth. We are pleased to have been able to re-invest in the business and look forward to continuing our relationship over the coming years.”

The PPP deal was funded and advised entirely by professionals from the Birmingham corporate finance marketplace. The PPP management team and shareholders were advised by Pinsent Masons, while LDC was advised by Gateley Wareing and Deloitte.