A Nottinghamshire-based packaging company has been saved, securing more than 70 jobs. iTEC Packaging Limited in Mansfield has now been sold along with its assets to Alpla UK, allowing it to retain all 78 employees under its new owner.
This comes after the company faced financial pressures following difficult trading conditions and was placed into administration. Martyn Rickels, Simon Farr and Allan Kelly of specialist business advisory firm FRP were appointed as joint administrators to iTEC Packaging Mansfield Limited on April 5, 2023 and have now secured a sale.
iTEC Packaging was a plastic packaging designer and manufacturer that provided compression moulding and injection moulding of closures for the dairy industry as well as the food and beverage sectors. Commenting on the acquisition, Jens Seifried, Alpla UK, said: “With the acquisition of the iTEC Packaging, Mansfield business, the global packaging and recycling specialist Alpla is expanding its expertise as a packaging system provider in the UK market.
Martyn Rickels, Joint Administrator of iTEC Packaging , said: “iTEC Packaging was a long-established business and player in the dairy supply chain so we’re delighted to have secured a new buyer. Alongside the transaction to sell the sister business in Chester-Le-Street, this has helped save nearly 200 jobs in a short space of time, as well as protecting the customer base with ongoing production.
"We wish Alpla UK and its team every success as they take the business forward.” James Cameron, Samantha Latham, Samantha Poulton and Faith James of Pinsent Masons provided legal advice to FRP Advisory.