MBO at Glossop Cartons
Wednesday, March 3, 2021
The former sales director of packaging manufacturer Glossop Cartons has led a management buyout at the business.
Wayne Fitzpatrick, who joined the Stockport company from Mayr-Melnhof Packaging in 2018 and has 30 years’ industry experience, has stepped up to the role of managing director as part of the deal, which was completed last Monday (22 February).
He has also become the company’s sole shareholder; it was previously owned by former joint managing directors Jacky Sidebottom-Every and Brian Sidebottom and Sidebottom-Every’s two sisters Jill Every and Vicky Every.
The rest of the MBO team comprises David Bartlett as head of operations, Simon Boden as head of supply chain and business improvement, Clare Beswick as head of HR, and Matthew Clarke as head of sales.
The deal was managed by Andrew Baggot from Clarke Nicklin, who Glossop said supported a smooth transition for both parties.
Fitzpatrick told Printweek: “This was always in the back of our minds. When I first joined Glossop Cartons, we loosely talked about working together for a year to see how things go, and after I got a year into the working relationship with Jacky and Brian, we started to have more serious conversations about it.”
Last year Glossop Cartons achieved turnover of £11.5m, up from £8.7m the previous year, and the new management team has developed a sustainable organic growth strategy for the business going forward.
“The focus for this year is to work through the transition and to have some focus on supply chain and optimisation,” said Fitzpatrick.
“We’re aiming at around £12m turnover and from there it will be looking at profitable manageable growth over the next few years.”
He said innovation, quality and service are the cornerstones of the business and “it will be an exciting and rewarding journey for ourselves, our staff and customers as we build on this strong market position”.
Glossop’s former joint managing directors Sidebottom-Every and Sidebottom will continue as consultants to the business, having stepped into the roles on Monday (1 March).
“Jacky and Brian are going to support the business over the coming weeks during the transition period and then after that they will be available on hand as required,” said Fitzpatrick.
“It’s nice that they have got a little bit of a transition as well; they’re not going from full-time every day to nothing, it will ramp down over the next few weeks.”
Sidebottom-Every added: “This buyout is the next chapter for Glossop Cartons and it is an incredible opportunity for a stellar management team to further develop the business and take it to the next level.
“We’d like to thank Wayne for buying the company, we are delighted that it will remain independent and managed with the same values that have stood it in great stead for the last 39 years.”
Established in 1982, Glossop Cartons produces cartons, sleeves, wallets, blister pack cards, skin pack cards, counter-top and shelf displays, header and hanging cards.
It serves customers in sectors including FMCG, pharmaceutical, personal care, automotive and household.
The business, which currently employs 100 staff, runs Mitsubishi presses and finishing kit from Highcon, Bobst and Brausse. In late 2019 it expanded its floorspace by more than 50% after taking on the 2,300sqm industrial building next door to the 4,140sqm production units it was already operating from.