MACFARLANE Group has completed the acquisition of protective packaging specialist B&D 2010 Group.
B&D, which is based in Southampton, employs 15 staff and supplies customers in the aerospace, defence and space sectors, throughout the UK and internationally.
Macfarlane said there are ‘significant opportunities’ to provide B&D’s existing customers with additional packaging solutions and to develop new customers in the sectors within which B&D specialises.
For the year ended 31 December 2022, B&D generated sales of £2.6 million and an adjusted EBITDA of £500,000.
The acquisition was priced at £3.85 million (including an earn-out of up to £0.55 million based on agreed profit growth target over one year). The consideration is being financed entirely from the group’s existing £35 million bank facility.
Peter Atkinson, chief executive of Macfarlane, said, “B&D is an excellent business servicing high quality customers in attractive growth sectors and complements Macfarlane’s existing specialist protective packaging activities. We look forward to working with the team at B&D to support its continued growth.”
