Plastic packaging manufacturer Linpac Group has sold Linpac Environmental and Linpac Recycling as part of a sell-off of five of its non-core speciality businesses to private equity firm Chamonix Private Equity.
Funds from the sale, which are not being disclosed, will be used to pay-down debt at Linpac Group. Linpac Group executive chairman John Darlington said: “Even operations that are non-core require management attention, however, and the disposal has therefore released senior management time for use elsewhere in the business. It also means we will be able to concentrate investment on core activities in future.”
Together the five businesses generated a little under 6% of Linpac Group revenues and employed 450 people. Relevant Linpac staff have transferred to Chamonix.
Linpac Environmental dealt with the manufacturing and marketing of plastic litter, recycling and street furniture products. Linpac Recycling recycled post-use rigid plastic into specified recycled compounds for a range of moulding applications. The other companies being sold include Linpac Storage Systems, Intellident and Linpac Metal Decorating. With the exception of Intellident, the other businesses are expected to change their names.