Boston, Nov. 27 - Audax Group announced it has completed the acquisition of Nicholl Food Packaging Limited (“Nicholl”) from its private owners, including founder Wilson Nicholl. Headquartered in Cannock, United Kingdom, Nicholl is a leading supplier of aluminum foil containers to the European food sector, with operations in the United Kingdom, France, and Belgium. Nicholl supplies over 1,200 types of aluminum packaging solutions to blue chip food producers, supermarkets, bakeries, and the take-out restaurant market. Andrew Dent, Chief Executive Officer of Nicholl, will continue to lead the existing management team.
Geoffrey S. Rehnert, Co-CEO of Audax Group, said "Nicholl is a leading provider of aluminum food packaging solutions within Europe and is focused on the growing ready to cook and prepared foods market. We look forward to working with management to expand the business organically and through strategic acquisitions in Europe and the United States.”
Wilson Nicholl, Founder and Strategic Advisor to Nicholl, said “This is a terrific outcome for Nicholl’s employees and customers. Partnering with Audax will provide our business the resources to strengthen our position in Europe and further penetrate the U.S. market.”
Andrew Dent, CEO of Nicholl, said “We are excited to have Audax Group as our partner. Their experience building global businesses will be an asset for us as we capitalize on the growing demand for ready to cook and prepared food products across Europe and the United States.”
Kirkland & Ellis LLP advised Audax Group. The company was advised by Livingstone Guarantee LLP, a Global M&A partner of Brown Gibbons Lang & Company, LP, who introduced the deal to Audax. Jamieson Corporate Finance LLP advised the management team. Barclays PLC (TK:BARC) and The Bank of Ireland (TK:BIR) provided senior and subordinated debt financing.
ABOUT AUDAX GROUP
Audax Group, founded in 1999, is a leading investor in middle market companies. With offices in Boston and New York, Audax manages in excess of $2.4 billion in equity and mezzanine debt capital.