Private equity company NorthEdge Capital has purchased Blackburn-based tissue converter Accrol Papers in a £66million deal.
Accrol is one of Europe’s largest independent converter of soft tissue products. Established in 1993, it employs 300 staff with a current turnover exceeding £100m.
It has a manufacturing capacity in excess of 80,000 tonnes per annum.
The business manufactures a wide range of household and AfH tissue products for a range of leading retailers and service providers from its purpose-built production facilities in Blackburn.
The investment by NorthEdge will facilitate the acceleration of the company’s expansion programme to increase capacity and support further growth, job creation and product development.
Majid Hussain, chief executive of Accrol, said: “The investment from NorthEdge follows a sustained period of growth for the business during the last five years. “The capital will allow us to accelerate capital expenditure to increase output and ensure that we continue to deliver the highest quality products and services to our customers.
“We look forward to working with the team at NorthEdge to drive the business forward and continue to increase our support to customers.”
Dan Wright, Partner at NorthEdge Capital, said: “Accrol .. is a fast growing business with a significant share of the UK market and an impressive customer base.
“With ambitious growth plans, the investment from NorthEdge will enable it to accelerate its strategic development.”