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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.
29 April 2020