The Swedish group BillerudKorsnäs AB has signed an agreement to sell its paper mill in Beetham, UK to investment firm, Inspirit Capital. Inspirit has assumed ownership with effect from 31 October 2021.
Steven Blacow, CEO, says: “I am extremely excited by this development. With Inspirit’s support, the Beetham mill now has the opportunity to further develop in the medical field, which has not been a strategic priority for the former owners. The mill has a strong record of product innovation and operational efficiency, and I look forward to harnessing the team’s outstanding know-how and customer focus to create a successful independent business.”
The new company will be rebranded ‘Pelta Medical Papers’, with the word Pelta being ancient Greek for a lightweight shield.
Inspirit Capital is a London-based investment firm that specialises in acquiring businesses that are no longer core to their parent company’s strategic objectives and require a different ownership structure to achieve their full potential.
Will Stamp, founding Partner at Inspirit Capital, says: “We are very pleased to be investing in BillerudKorsnäs Beetham Ltd, which again demonstrates Inspirit’s capacity to undertake complex corporate carve-out transactions. The mill is one of the global leaders in the manufacture and supply of sterile barrier papers for medical devices and grease barrier papers for the quick service market. The business is very well positioned to continue its expansion into the healthcare space, which we see as the long-term driver of growth. The workforce at Beetham has tremendous experience and competence, and we are looking forward to working with Steven and the wider team on supporting the future development of the business.”
