Bowdon Investments buys Somerset packaging firm from administrators

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9:05 am, February 8, 2010
Bowdon Investments buys Somerset packaging firm from administrators

By James Chapelard

Altrincham-based private equity house Bowdon Investments Group has made its first acquisition of 2010.

Bowdon, headed by entrepreneur Saul Loggenberg, has acquired Somerset-based Riverside Flexibles, which makes flexible packaging for food and personal care products. The value of the deal was not disclosed.

The £4m-turnover Riverside Flexibles company was bought of administration and the deal saved 50 jobs. It's the latest in a long line of acquisitions for Bowdon Investments following deals to buy printing and packaging companies throughout 2009.

Bowden said its print and packaging division now had an annualised turnover of £23.5m and the group's print and packaging division now operates from six sites and employs 180 staff.

Last November, Bowdon acquired Trafford-based Paramount Print Group which was quickly followed by the purchase of Leigh-based Leighton Packaging and Acorn Packaging, based in Stoke. Earlier in 2009, it also bought Rochdale-based Makin Metal Powders out of administration.

The group is looking to build group revenues to £120m by targeting acquisitions in the engineering, support services, cosmetics manufacturing, marketing and architectural sectors. It is also reported to be in talks with administrators to line up a bid Altrincham-based lingerie supplier Stirling Group, which went into administration last month. Bowdon is being advised by Manchester-based TMG Corporate Finance.

Comments?jchapelard@crain.com