Bristol-based packaging specialists SH Fiske Ltd has been acquired by RH Fibreboard with the assistance of Harbourside Corporate Finance.
Based out of Longwell Green, Fiske specialises in designing, developing, and producing a range of packaging solutions for a variety of market sectors.
Its range includes conventional transit packaging to decorative cardboard boxes. Fiske has 25 employees, operating out of their specialised facilities.
RH Fibreboard (part of the investment group Goonvean) views the move as an excellent way to bolster manufacturing capabilities in the South West, diversify its customer base and boost existing distribution channels.
Following the transaction, the existing management team and employees will continue to run SH Fiske as a wholly owned subsidiary of RH Fibreboard. Sean Baxter, MD of RH Fibreboard, will lead the combined businesses.
Harbourside worked closely with SH Fiske Ltd and its shareholders throughout the deal, from the initial marketing of the company, advising and assisting during the due diligence process and support through to the successful sale.
Ricki Critchell, Director at Harbourside Corporate Finance, said: “This deal represents an exciting opportunity for the future growth of both RH Fibreboard and SH Fiske Ltd, so we were delighted to play a part in them completing this acquisition.”
In a statement following the deal, Matthew Gazzard, Managing Director of Goonvean Holdings, said: “Following Goonvean’s successful acquisition of RH Fibreboard in 2019, we are confident that Fiske’s operations will further enhance our presence in the region and solidify our mutual service levels to the combined customer base.
“SH Fiske’s specialised manufacturing capabilities make it a natural complement to Fibreboard. Fiske’s strong reputation for quality, service and innovation matches Fibreboard’s own dedication to high quality design and innovation, operational excellence and speed to market.
“Supported by Goonvean Holdings, we look forward to working closely with Fiske’s team to capitalize on the significant opportunity this represents, and further enhance the customer offerings of both Fibreboard and Fiske.”
“We are excited to join RH Fibreboard, as we bring together complimentary product and technology portfolios and the market leading manufacturing capabilities of these two companies,” added Nick Thompson, MD of SH Fiske (who will remain in this capacity post transaction).
“As part of a privately owned Group of companies, Fiske will be well positioned to continue investing in new technology and bringing product ideas to life, while creating increased value for all stakeholders.”
In the statement, Richard Jarratt, the previous major shareholder of SH Fiske, added: “After over 30 years heading the business, we are extremely pleased to be passing over the custody of the company to a family run investment group who we are sure will facilitate the exciting next stage of the company’s history.
“To watch the incredible progression of RH Fibreboard since they joined the Goonvean Group gives us confidence that we pass S H Fiske over to a supportive, progressive and ambitious new owner who will help to maximise all that Fiske can achieve.”
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