GrowthBusiness.co.uk: Your gateway to entrepreneurial success
Simon Daniel
Back to the future
Now the recession is apparently over, global companies are back to thinking about the future...
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The management team at paper manufacturer and supplier Curtis Fine Papers is to develop the business after completing a secondary buy-out.
The £12 million buy-out was led by finance director Robin Paul, who is joined on the board by managing director Keith Chapman, sales and marketing director Janey Hunter and operations director Paul Egan.
The deal was backed through acquisition finance and working capital provided by Five Arrows Commercial Finance, part of the NM Rothschild Group. Under the terms of the funding agreement, the management team have funds to invest in the development of the business.
Curtis Fine Papers was sold by retiring directors Allan Milne, who led the original buy-out in 2002, and founding shareholder Bill Whyte.
Fife-based Curtis Fine Papers generates a turnover of £30 million each year making 27,000 tonnes of paper with more than 30% of its products sold outside the UK.
Manchester-based Five Arrows specialises in independent asset-based lending, invoice discounting and factoring.
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