The UK's RPC Group (Rushden; www.rpc-group.com) is broadening its portfolio to gain a stronger share in the markets for personal care, healthcare and selected food segments. For GBP 103.5m (approximately EUR 122.7m) the rigid plastic packager has recently purchased fellow UK packager Maynard & Harris Group (M&H, Beccles; www.mhplastics.com). Principal sellers in the transaction were M&H management as well as UK equity investment group Caird Capital (London; www.cairdcapital.co.uk). RPC can buy up the remaining shares from M&H management in summer 2014.

The business model at M&H focuses on high, added-value packaging and flexible customer service. The company is also known for offering a wide range of personal care standard designs along with fully customised packaging solutions. With a customer base primarily in the UK and mainland Europe, the company has also seen its prospects grow in the US market, where it has a production site in Winchester, Virginia and applies a similar business strategy.

The specialist for blow moulding and injection moulding has about 700 employees and generated revenues of GBP 76.7m with an adjusted EBITDA of GBP13.9m for the last fiscal year ending 30.04.2013. For the current fiscal year, RPC is expecting its EBIDTA to increase to GBP 15.9m.

The entire transaction has been funded by existing debt facilities from RPC. The company says M&H will function as an independent entity within the RPC Bramlage cluster and will continue under the leadership of CEO David Duffield.