Labelling firm AJS sold to US giant in multi-million deal
THE OWNERS of specialist manufacturer AJS Labels have sold the business to US firm Multi Packaging Solutions (MPS) in a multi-million pound deal.
AJS Labels, who make and supply self-adhesive labels for a variety of markets, has been sold for an undisclosed sum to MPS, a global leader in its field and listed on the New York Stock Exchange.
AJS employs around 80 people at its base in Featherstone where it produces labelling for confectionery, health & beauty and personal care products.
The deal will allow AJS to continue to operate across both of its UK sites in Featherstone, West Yorkshire, and Littlehampton in Sussex.
The corporate finance team of Yorkshire accountancy firm Garbutt + Elliott guided the sale and advised AJS’s owners, Andrew and Jayne Scrimgeour, throughout the acquisition process.
Mr Scrimgeour said: “We have been involved with the business for over seven years now and are very proud of what it has achieved.
“Over that period, the business has grown significantly. We have built a strong reputation for innovation and service, and this deal will allow the business to further grow and develop as part a global company.
“Richard’s calm and professional advice throughout this process was invaluable during what for us was a very emotional process.
“Garbutt + Elliott’s expertise in this field and the personal service Richard offered meant we felt we were working with a trusted partner, and we were very happy with the outcome of the deal.”
Marc Shore, chief executive of MPS, added: “The acquisition of AJS is consistent with our strategy to develop a more substantial position in its core end-markets.
“It will help us grow the business organically and be part of our expanding global capability in premium labels.”
AJS Labels currently supplies self-adhesive labels to a range of well-known brands including Dulux, The Body Shop, Nestlé, Asda, Tesco, Waitrose, Nature’s Way Foods and Twentieth Century Fox.
Garbutt + Elliott’s Richard Feltham said: “Andrew and Jayne have grown AJS Labels into a very successful multi-award winning company and I am pleased to have assisted them in taking the business to the next level.
“The deal was several months in the making and spanned Brexit, proving that there is still a great deal of interest from overseas investors looking to acquire thriving UK companies.”