Barclays have helped fund a Lincolnshire manufacturer’s secondary management buyout.
The multinational bank funded the buyout which was led by Forum Packaging Limit’s Managing Director Rob Massey.
The Lincolnshire company was established in 1964 and has been producing many types of paper sacks, becoming one of the UK’s leading suppliers.
Based in Horncastle, Forum Packaging employs over 70 staff and its turnover is expected to exceed £8million this financial year.
Rob Massey, Managing Director, Forum Packaging said: “This secondary buyout is the culmination of a lot of hard work by the team which enables us to really build on our current success and expand on the incredible achievements to date.
“With the support of our new bankers Barclays, we’ve been able to negotiate facilities including term loan and working capital and this provides us with the flexibility to take the business to the next level, building on our reputation for excellence in service, quality, product availability and customer relationship.
“We’re excited about delivering on our ambitious expansion targets for the future.”