UK-based investor Inspirit Capital acquires paper mill in Beetham
The Swedish group BillerudKorsnäs has signed an agreement to sell the paper mill in Beetham to Inspirit Capital, a UK-based investment firm.
Inspirit assumed ownership with effect from October 31.
The mill in Beetham has 140 employees and produces machine glazed kraft paper for the packaging of medical devices, quick service food products and other types of industrial applications.
CEO Steven Blacow said: “I am extremely excited by this development. With Inspirit’s support, the Beetham mill now has the opportunity to further develop in the medical field, which has not been a strategic priority for the former owners.
"The mill has a strong record of product innovation and operational efficiency, and I look forward to harnessing the team’s outstanding know-how and customer focus to create a successful independent business.”
The new company will be rebranded ‘Pelta Medical Papers Ltd’, Pelta being an ancient Greek name for a lightweight shield.
Inspirit Capital is a London-based investment firm that specialises in acquiring businesses that are no longer core to their parent company’s strategic objectives and require a different ownership structure to achieve their full potential.
Will Stamp, founding Partner at Inspirit Capital, said: “We are very pleased to be investing in BillerudKorsnas Beetham Ltd. The mill is one of the global leaders in the manufacture and supply of sterile barrier papers for medical devices and grease barrier papers for the quick service market.
"The business is very well positioned to continue its expansion into the healthcare space, which we see as the long-term driver of growth. The workforce at Beetham has tremendous experience and competence, and we are looking forward to working with Steven and the wider team on supporting
the future development of the business”.
The paper mill in Beetham has a capacity of around 45,000 tonnes per year.
In 2020, the facility generated revenue of around SEK 480 million.