21st May 2019
Honeywood, which operates from Northampton, has produced packaging for the pharmaceutical, healthcare and retail sectors for more than 20 years. The acquisition will strengthen and expand Wasdell’s manufacturing and packaging capacity in the UK to support the company’s growing national and international portfolio of clients.
Vincent Dunne, CEO of the Wasdell Group said: “By increasing our capacity and service offerings here in the UK, we will be better able to serve our growing client base in the US as it looks to Wasdell to provide a fully outsourced supply chain for its products within Europe.”
Martin Tedham, chairman of the Wasdell Group added: “Honeywood caught our attention due to its synergies with Wasdell’s operations, which will easily integrate into our own. In particular, its oral liquid manufacturing capabilities will allow us to instantly increase capacity beyond our Newcastle upon Tyne facility.”
The Wasdell Group received legal support from long-term advisers Thrings. The team was led by head of corporate John Davies, and assisted by partner Simon Hore and solicitor Steven Rice. Property-related advice was provided by legal director, Charlotte Barrett.
Since acting for Martin Tedham on the acquisition of Wasdell Packaging in 2007, Thrings has carried out a series of acquisitions for the business, among them Vineham Engineering and Qualiti (Burnley) in 2014 and Shire Pharmaceuticals’ North East production and clinical trial facilities in 2017.
John Davies said: “The Wasdell Group are a huge success story: on top of their game as world leaders in the sourcing and supply of packaging and services to the healthcare, pharmaceutical and veterinary markets. It’s been a pleasure working with Martin and this dynamic company in this period of impressive expansion.”
Martin added: “Over the years we have built outstanding relationships with Thrings’ partners, who are always approachable and take us through the legal process in a way that ensures we are happy at every stage. As such, we always look to Thrings when setting out to acquire a new business.
“John, Simon and Charlotte’s advice, thoroughness and dedication to the Honeywood due diligence process, through to completion, ensured that Wasdell’s interests were protected throughout.”
To discuss acquisitions or other corporate matters, please get in touch with a member of the Corporate team.