Prism Help Secure a Rosy Future at Essex Packaging Firm
Prism Corporate Broking have facilitated the sale of Clacton based specialist packaging company, Turpins Packaging Group, to USA owned company, Accraply Inc.
Founded some 42 years ago, Turpins design and manufacture high-performance shrink sleeve applicators marketed under the widely recognised Sleevit brand. Over the years they have built a solid reputation for quality and innovation. In 2005 the firm was acquired in a management buyout by co-owners Edward Woods and Phil Carter. Today, with a workforce of just 20, they sell to a global customer base spanning a broad range of industry sectors.
Eddie Wood, Chairman of Turpins made the decision to leave the company to concentrate on other outside interests, which prompted them to contact specialist company Prism Corporate Broking to facilitate and manage the sale of the company.
Prism researched and approached a number of potential suitors, including Accraply Inc, a subsidiary of Barry-Wehmiller companies, and in a competitive auction Accraply emerged as the preferred partner.
Rob Leonard, president of Accraply based at their headquarters in Plymouth USA, saw the opportunity to strengthen its commitment to shrink sleeve labelling with the addition of Turpins’ Sleevit brand. Peter Watson, Managing Director of Prism Corporate Broking adds, “We are delighted with the outcome, the sale progressed well and both parties have achieved their objectives.”
Turpins will continue to trade from its Clacton based site and the jobs of all staff have been secured. Phil Carter retains his former sales role, and commented, “Turpins is recognised as a leader in the growing shrink sleeve labelling industry and this merger sets the stage for our continued growth. We look forward to building an exciting future for the company and our employees.”
Accraply’s Rob Leonard said, “This acquisition allows us to expand our footprint in Europe and our new brand Sleevit, along with our existing brands, complements our overall position as a global provider of a complete range of labelling and converting equipment.”