The corporate team at Thursfields Solicitors has advised the owners of a packaging specialist based in Port Talbot on its sale to the UK subsidiary of a French-owned group.
SARPAK has been acquired by Alfaplas, the Hereford-based subsidiary of French headquartered Sphere for an undisclosed sum.
A Thursfields team led by corporate director Gareth Burge and including corporate associate Joe Rollins, Helena Morrissey, director and head of employment, and commercial property director Robert Pettigrew advised the sellers on the deal, including ongoing directors Lee Shackson and James Punter.
SARPAK had a 2019 turnover of 12 million euros and has a production capacity of around 7,000 tons, extruding, converting and recycling PE and compostable films. Alfaplas extrudes prints and slits PE and compostable films as well as paper, turning over 21 million euros in 2019.
Gareth Burge said: “The sale by the shareholders of SARPAK to Alfaplas enables Sphere to consolidate its production facilities in the UK. Together, SARPAK and Alfaplas are perfectly positioned to achieve their ambitious growth plans in what is an expanding market for the manufacture of environmentally responsible products. We really enjoyed working with Lee, James and the other shareholders on the deal and wish them well for the future.”
The sale to Alfaplas provides both companies with additional manufacturing capabilities.
Director Lee Shackson said: “The support and advice of Gareth and his team was invaluable in helping us to complete the sale of SARPAK and ensure a great result for both parties.”
The Richards Sandy Partnership provided tax and accounting advice to the sellers of SARPAK. Sphere received legal advice from Thompson Smith and Puxon, while accountants Mazars advised on the finance and tax aspects.