“"Right from developing a list of buyers, to preparing the information, leading the negotiations, and managing due diligence, Forward provided us with guidance and hands on support throughout.””
| Date: | July 2023 |
|---|---|
| Project: | Business Sale |
| Sector: | Manufacturing |
| Role: | Lead Advisor |
Forward is delighted to have advised the shareholders of Compliance Labelling Solutions (CLS) on its sale to the Asteria Group (Asteria). Based in Braintree, Essex, CLS is a BRC and ISO certified label and tag manufacturer with over 40 years’ experience serving clients across a range of different sectors. The business is highly respected in the industry and is known by its customers for high quality levels of service & product.
Asteria is an international group that produces a wide range of printed packaging materials such as labels, flexible packaging, and boxes. The group has grown rapidly and currently has thirty-three production sites in Belgium, the Netherlands, France, Germany, Denmark, Spain, UK, Estonia, Ireland, and Finland. This is Asteria’s third acquisition in the UK, following CS Labels and Berkshire Labels. The transaction will allow the Asteria Group to consolidate its footprint both in the UK and in the food and beverage area.
After acquiring the company through management buy-out back in 2015, the shareholders of CLS were looking to find the right partner to take the business forward, while providing stability for its employees and customers. Asteria proved to be a perfect fit, as despite its size, it continues to maintain the SME spirit and will enable CLS to continue guaranteeing fast delivery times and excellent levels of service to its customers. The opportunity to share knowledge and skill amongst the group also present a significant opportunity for CLS under the ownership of Asteria. CLS will continue to be led by its current management team, Matt Day, and Geoff Nunn.