Accrol Papers Considering New Tissue Mill
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Tissue converter Accrol Papers, U.K., reports a £66 million deal with private equity firm NorthEdge Capital that could include a new tissue mill. The project would create well in access of 100 jobs.
According to CEO Majid Hussain, "the investment from NorthEdge follows a sustained period of growth for the business during the past five years. The capital will allow us to accelerate capital expenditure to increase output and ensure that we continue to deliver the highest quality products and services to our customers." The business, founded in 2003 and established by the Hussain brothers, currently employs 300 people and has a turnover of more than £100 million annually.
One of Europe’s largest independent converters of soft tissue products, the business has a manufacturing capacity in excess of 80,000 metric tpy. It manufactures a wide range of household and away-from-home tissue products for a range of leading retailers and service providers.
Partner at NorthEdge Capital, Dan Wright, explained that "NorthEdge works exclusively with successful companies and ambitious management teams based in the North of England, and Accrol is no exception—a fast growing business with a significant share of the U.K. market and an impressive customer base."
