Amcomri Group has confirmed the acquisition of Premier Limpet, the UK’s largest manufacturer of printed adhesive tape for an undisclosed sum. Premier Limpet will join Amcomri’s fast-growing manufacturing division following the support of Shawbrook Bank who provided a comprehensive ABL finance package.
The purchase by Amcomri Group provides a retirement exit for the majority shareholders, Chairman Bob Edwards, and Finance Director Des Irwin. The company’s Managing Director, Tony Edwards will remain with the business.
Premier Limpet operates manufacturing plants in Cambridgeshire and Hertfordshire and delivers over 48 million square metres of tape per year which it sells to the trade through a well-established network of distributors throughout the UK.
Producing an extensive range of custom and standard tape solutions, Premier Limpet prides itself on the quality of its service and its extensive product range. The company is also leading the way in the development of environmentally friendly tape solutions, operating its own laboratory to test the performance, quality, durability and sustainability of new materials.
Throughout the COVID-19 pandemic Premier Limpet was instrumental in supplying social-distancing tape for floor application in various retail and other public settings having developed its own unique tape formulation, durable enough to withstand footfall but easily removeable without leaving a glue residue.
Now, Premier Limpet is set for further growth as the funding from Shawbrook Bank supported the acquisition whilst also providing working capital as Amcomri Group takes the business forward.
Mark O'Neill, Investment Director at Amcomri Group, commented:
“Premier Limpet is an extremely well-run business that has performed particularly well during the recent difficult trading period. We wish Bob Edwards and Des Irwin well in their retirement, and are excited to work with Tony Edwards and his team to continue the success of the business. The acquisition of Premier Limpet further strengthens Amcomri Group’s manufacturing division, and provides Premier Limpet with the opportunity to further strengthen its market leading position in a sector that is displaying steady growth.
“Shawbrook provided a flexible funding solution that not only supported us with the acquisition, but also provided the working capital that we need to grow the business. The demand Premier Limpet has seen over the last 18 months has been remarkable and we are excited to be able to expand the business further with the funding from Shawbrook.”
Tony Edwards, Premier Limpet Managing Director, comments:
“For the team at Premier Limpet our focus remains unchanged as we continue to work hand in hand with our distribution partners across the UK. Recent changes in the global supply chain have highlighted the advantages of working with UK manufacturers, offering high quality products delivered on a just in time basis.
“The funding from Shawbrook coupled with the extensive manufacturing experience within the Amcomri group will enable us to accelerate our ongoing development programs designed to further enhance efficiencies, optimise cost, and reduce our carbon footprint, as we continue our journey of delivering best value to our distributors.”
John Hunter, Director at Shawbrook Bank, said:
“By working closely with both the team at Premier Limpet and at Amcomri Group, we were swiftly able to understand what was required and how Shawbrook could add value. We are delighted to have supported Amcomri Group as they take the business forward, using their expertise in manufacturing, whilst also providing an exit to the existing owners. The funding we have provided has unlocked the next stage in the journey of Premier Limpet and we look forward to seeing how the business will continue to evolve as a market leader in the tape industry.”