TLT has advised Longacre Group on an investment in Prowrap Limited.
The investment will enable the Prowrap Group to develop its brands and create value for the future whilst retaining its operations in their current format.
Longacre Group is a private investment firm backing small and medium sized companies across the UK and Europe in B2B sectors.
Prowrap is a leading producer of innovative dispensing solutions, foil, film and baking paper, supplying into the hair colouring, food service and retail industries. It comprises two brands – Procare and Wrapex – and is based in Bristol.
The TLT team, led by corporate partner Jon Gill, advised on all legal aspects of the transaction, and involved a wide team of specialists including Richard Houliston (partner, banking); Mark Braude (legal director, tax); Andree Parker (solicitor, tax); Esther Smith (partner, employment); Ed Pitt (associate, real estate); and corporate lawyers Dan Whitewood (legal director), John Oladeji (solicitor) and Krish Khanna (trainee solicitor).
Stani Schmidt-Chiari, of Longacre Group, says: “With its market leading position and innovative offering, Prowrap is precisely the type of business Longacre Group looks to support. TLT gave us clear and helpful advice and a great deal of comfort in how the transaction was progressing.”
Jon Gill, partner at TLT, says: “This is a great partnership and involved a creative deal structure and significant effort and collaboration from all sides to deliver the transaction to a demanding timetable. Prowrap is another excellent example of a Bristol-based business that is a leader in its field, and we were delighted to be able to support Longacre Group on this exciting new investment.”
TLT previously advised Longacre Group on a significant investment into Medical Screening Solutions, a leading provider of outsourced medical screening to the life insurance sector.