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26th March 2007
CAT.64
CATAPULT SEES EARLY RETURN ON INVESTMENT INTO DE-PACK
Leicestershire waste recycling company De-Pack Limited, set-up just over two years ago, has been acquired by Personnel Hygiene Services (PHS) for an undisclosed sum.
De Pack Limited, which operates from Wymeswold Business Park, offers an innovative recycling process using compaction and gas-liquid separation technologies that release no emissions into the atmosphere. All waste product and packaging is recyled, or recovered and reused as fuel.
This trade sale represents a success story both for the De-Pack management team and Catapult Venture Managers, which managed the investment of £250k into the business in November 2004. This funding – along with a further £560k raised by De-Pack – was used to finance the construction of a plant used in the secure destruction and recycling of off-specification, or spent aerosols and paints.
Catapult, which manages the East Midlands Regional Venture Capital Fund (EMRVCF) is delighted with the quick return on their original investment. Catapult director Robin Jones, commented: “This clearly represents a very successful ‘start-up’ investment in which by backing a quality management team we have made an excellent return on investment in just over two years.”
The company was formed by three ex-senior managers from Shanks plc with a
combined total of over 30 years experience in the waste industry covering sales and marketing, engineering, project management and legislation. They are managing director Catherine Crouch, sales director Brian Mullholland and technical director Martin Snaith.
Concluded Robin Jones: “PHS is a company with a good acquisition track record. The future for the De-Pack business looks very bright indeed.”
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For further information please contact Robin Jones at Catapult Venture Managers on 0870 116 1600 or Paul Shrimpton on 0121 354 7311 or 07979 505322.
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