Firm confident of future
Macfarlane poised for next acquisition as deals boost figures
Peter Atkinson: consolidation
Packaging group Macfarlane is expected to announced another acquisition before the end of the year as recent bolt-on deals helped contribute to a growth in half-hear sales and profits.
Chief executive of the Glasgow-based company Peter Atkinson said the next deal would be concluded “in the next couple of months”.
He said the industry was going through a period of consolidation as the owners of a lot of privately owned companies look to retire.
“We have made about 10 acquisitions in the last five years,” he said. “Hopefully our next announcement in the next couple of months will be our next acquisition. We see a strong pipeline of acquisitions, both in the UK and also in Europe.”
The Glasgow-based company saw half-year profits rise 8.7% to £3.8 million on a 5.4% increase in sales to £107.5m as result of new business growth and the benefits of recent acquisitions.