Leeds company invests in £6m firm
martes, 20 octubre 2009
A Leeds-based label distributor has completed a multi-million pound investment deal to buy a label printing company with a turnover of £6 million.
Reflex Group, which has its headquarters in Sherburn in Elmet, has agreed to buy Lincolnshire-based Superior Labels for an undisclosed sum.
Superior Labels is a manufacturer of self-adhesive labels, board products and packaging film for industries including food and toiletries.
The managing director of the company, Ray Sharp, decided to retire after founding the business in 1990 and spending 19 years in charge. He approached corporate finance house BMCS to find a buyer, and the deal with Reflex was arranged.
All 58 jobs at Superior's Lincolnshire factory will be kept on.
Mr Sharp said: "Superior Labels are one of the fastest growing players in our sector and now, with the backing of Reflex, I am confident that together we can go on to become a major force within our sector in the UK."
Hugh Ashburner, deal leader at BCMS Corporate, said: "We are extremely pleased to have found such a suitable buyer for Superior Labels in Ian Kendall at Reflex Labels in such a short period of time, particularly with the current economic climate."
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