Accrol Papers (Accrol), a leading manufacturer of soft tissue products, has announced the appointment of Peter Cheung as Non-Executive Chairman.
The Blackburn-based business is one of Europe’s largest independent converters of soft tissue products, with annual turnover exceeding £100m and manufacturing capacity in excess of 80,000 tonnes per annum. It produces a wide range of household and away from home tissue products for leading retailers and service providers from its purpose-built production facilities.
As a chartered management accountant, Peter has a strong commercial and operational background and brings 20 years’ Board level experience to his new role at Accrol. He has previously held senior executive roles at Fort James Paper Corporation, AM Paper, TMD and Jemella Group branded as “ghd”.
Peter Cheung said: “Accrol is an excellent business in a very exciting stage of growth. I have significant experience in this sector, and I am looking forward to working alongside the management team and NorthEdge to grow and develop the business further.”
Majid Hussain MBE, CEO of Accrol Papers, said: “We’re very pleased to have Peter on board with the company – he is an incredibly experienced individual who understands the sector we are operating in and who will no doubt bring enormous benefit to the business.”
In July this year Accrol received backing from NorthEdge Capital, the private equity firm focused on investing in businesses in the North of England. The investment has allowed the business to accelerate its expansion programme to increase capacity and support further growth, job creation and product development.
Since July, the business has extended the site to install new machinery, introducing an additional production line that has further increased its manufacturing capacity. 2015 will see the introduction of two more production lines, with further job creation.
About NorthEdge Capital LLP
NorthEdge Capital, which operates from Manchester and Leeds, closed its maiden fund at £225m in March 2013, raising funds from 15 global institutional investors and 16 HNWIs. NorthEdge Capital LLP focuses exclusively on Northern-based companies seeking equity investments to support MBOs, development capital and equity release and has to date made 10 investments in Accrol Papers, Fine Industries, FPE Global, Help-Link, Jigsaw24, Ramsdens, Roberts Jackson, Solidor, Sumo Digital and Utiligroup.
NorthEdge targets the lower mid-market with investment in businesses with an enterprise value of £10m to £100m, although typical transactions will range from £20m to £75m in value with equity investments from £5m to £35m in any one deal.
The senior team at NorthEdge has over 100 years’ experience in structuring and financing private equity transactions. The firm takes a management-orientated approach with a culture of delivery where smart, opportunistic thinking supported by meaningful due diligence and sound perspectives are valued. It focuses on value creation and capital return to the benefit of all stakeholders.