Lee Thompson
established and has been a part of Papilo’s own supply chain for more than15 years.
It works with major food manufacturers and water utility companies to identify the agricultural benefit within their organic waste streams and distributes them to the agricultural sector, with the waste ultimately being used by farmers as natural fertiliser.
Papilo chief executive Paul Hodgkiss says it fits perfectly: “At Papilo our goal is to lead the way in fostering a circular economy, where waste is minimised, resources are maximised, and everything we do contributes to a healthier planet.
“We are delighted therefore to have acquired Silverwoods Waste Management’s Waste- to-Land division, a deal that accelerates our growth while increasing our sustainable business mission.
“The founder Julian Silverwood has done a first- class job in growing this business and we look forward to supporting him and the team as they join forces with Papilo.”
Greg Holmes from Palatine’s Impact team adds: “This strategic bolt-on acquisition strengthens Papilo’s strong ESG credentials and will offer the business a further opportunity to grow through cross selling its services to existing customers.
“We are pleased to have completed the first acquisition since our investment and continue to look at a number of other opportunities for the business.”
The busy month of June also saw the completion of the £82.3m takeover of Blackburn based nutrition specialist Science in Sport (SiS) by London based investment firm bd-capital Partners.
The takeover of the AIM-listed business by Einstein Bidco, a company formed and backed by bd-capital, was originally announced in April.
Co-founded by former Boots chief executive and Asda chief operating officer Richard Baker, bd- capital focuses on investment opportunities in the healthcare, services and consumer sectors.
Commenting on the acquisition at the time, Andrew Dawson, managing partner of bd-capital, said its aim was to accelerate SiS’ growth and to unlock the long-term value of the company.
He said: “We are impressed by the attractive fundamentals and high growth potential of SiS’ two brands, both operating in growing segments of the attractive sports nutrition market.
“We are particularly attracted to the science-led heritage of the company, with strong advocacy
Papilo
amongst elite athletes and a loyal consumer base – all of which provide it with solid foundations for growth in the UK and internationally.
“We have been monitoring the business for several years and have been highly impressed by the results achieved by the current management team in the last 18 months.”
The recent deal activity in Lancashire comes as new research reveals total equity investment into smaller businesses across the North West increased by 46.2 per cent to £654m in 2024, despite a nationwide slowdown in activity.
The volume of equity deals also increased in 2024, rising by 11.5 per cent to 146 deals. The North West was one of only three regions in the
Expert View
NAVIGATING A FAMILY BUSINESS SALE By David Filmer
Partner and head of corporate, Forbes
Whether you are the buyer or the seller, each step of a family business transfer is distinct due to the blend of personal heritage and business expertise. The high-level roadmap that follows is intended to facilitate a smooth transaction for all parties involved.
Describe governance and succession
At the initial stage, confirm that the articles of association and shareholders agreement allow for a seamless transfer. Both the transparency of governance and the accurate documentation of important roles, whether held by family members or outside executives, will be of interest to potential buyers.
If you’re on the buying side have a look at these documents as soon as possible to find any family-only decision thresholds or succession provisions that could affect future control.
Examine your capacity for cultural fit and integration
Family businesses are characterised by close client relationships, a strong work
ethic, and shared values. The sellers should develop a concise culture brief that emphasises teamwork decision-making methods and fundamental family values.
One must evaluate how well this culture fits the buyer’s governance philosophy and integration roadmap. Early cultural diagnostics can guide integration planning following a transaction and help identify potential points of contention.
Alignment between estate planning and taxes
Capital gains tax breaks, such as the ability to sell business assets, can be very advantageous to vendors but they usually require the family to stay involved in the business. Buyers should factor in vendor- side tax planning as part of the overall funding package and think about how it might impact working capital at closing.
The next chapter of a family business history can be as strong as its previous chapters by combining careful governance review, open cultural assessment, and forward-thinking tax planning.
LANCASHIREBUSINES SV
IEW.CO.UK
UK to see both deal volume and value increase, according to the British Business Bank’s annual Small Business Equity Tracker.
Vicky Mears, British Business Bank UK network director in the North of England and the midlands, says: “It’s fantastic to see both the volume and value of equity deals increasing in the North West in 2024, particularly following multiple years of decline. These figures demonstrate real confidence in the region’s businesses and the strength of its innovation ecosystem.
“The North West continues to attract significant equity investment, supported by a thriving community of entrepreneurs, universities and research institutions.”
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