Woodberry Packaging bought Incodia in February – its first deal outside of Ireland – and has now added to its capabilities with the PCS takeover.
It acquired the business from Tim Holt, who co-founded PCS with Rob Nicholls in 1993 and became its sole owner after an MBO just over two years ago.
Woodberry Packaging is a subsidiary of Woodberry Capital, a private investment firm set up by former Americk Packaging owner Patrick Doran.
Former Americk non-exec, Firstan CFO and Benson Group managing director Mark Kerridge is now Woodberry Packaging’s chairman.
Doran commented: “PCS has consistently led the way in the card market, and its capabilities strongly complement our other print and packaging businesses, and we are confident of its long-term growth as part of Woodberry Packaging.”
Holt said that Woodberry completely understood the strengths of the PCS business, “and the culture and ethos that has made it into what it is today, and with their investment and knowledge, I have no doubt that PCS will thrive in the future”.
Macclesfield-based PCS specialises in the production of fully-recyclable cards that are used for gifting, loyalty and membership programmes, and by hotels.
The firm was a double winner in this year’s Printweek Awards, where it won the coveted SME of the Year category and was also lauded with an Innovation Award for developing a fully recycled, and recyclable, PVC card.
Managing director Adam Unsworth told Printweek that the team was excited about the future: “It’s all very positive. We were already in a strong position at PCS and this only makes us stronger – there are lots of complementary businesses in the Woodberry group so this is a massive opportunity.
“The fit with the new owner couldn’t be better. It’s really reassuring that these guys understand print and packaging.”
Apart from Holt stepping back “for a well-earned break and perhaps playing a bit more golf”, Unsworth said there were no other changes in the management team and it was business as usual for PCS, which retains its identity.
“We have a great brand and reputation, and we’re extremely busy.”
PCS employs 75 and has sales of around £5.8m.
At the time of the Incodia acquisition Woodberry Packaging was forecasting sales of around €48m (£41m) this year.
