Company overview: Hanmere is a manufacturer of recyclable polythene packaging products, supplied to a number of markets, including the food manufacturing, agricultural and pet food sectors.
Our initial investment: The owner and MD of the business had died, and the Trustees of his estate were looking to sell it. Hanmere needed new leadership to take the business on and reinvigorate it. Hanmere presented the challenge and opportunity of improving and professionalising internal functions to grow the top line, margins, and cash generation. A highly experienced industry Chairman and CFO joined the business at completion. Both had previously worked for a large private equity owned packaging business that they steered through a successful exit. It was also apparent that there was an opportunity to use Hanmere as a buy-and-build platform to create a larger group.
Building value: The initial focus was on operational and efficiency improvements, as well as additional emphasis on business development. Hanmere completed its first acquisition in September 2020, of a small, £5 million revenue, local, complementary packaging business. This was followed by a more significant acquisition in March 2021, of a flexible plastic packaging group called Amerplast, located in Finland and Poland.
Website link: www.hanmere.co.uk
Completion: December 2017