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Goodman Derrick LLP advises Transcend Packaging on £10m private equity investment
Goodman Derrick LLP has advised Transcend Packaging Limited on its £10m investment round led by private equity firm IW Capital. Founded in 2017, Transcend uses state of the art technology to manufacture paper straws, cups and food containers to replace plastic alternatives and includes McDonald’s, Starbucks and KFC amongst its customers. It is also launching compostable CE-marked PPE products and has secured contracts with the NHS.
The investment, undertaken by way of equity subscription, will allow Transcend to develop and accelerate its range of paper-based products aimed at reducing single-use plastic.
Gabriel Fysh, Transcend Packaging co-founder and director said:
“With the current focus on sustainable packaging, shifting away from plastic and the importance of domestic supply chains in a post Covid/Brexit world, Transcend is well positioned to take advantage of this well timed investment from IW Capital, existing shareholders and our strategic partners.”
Luke Davis, chief executive of IW Capital, said:
“We are thrilled to have led such a significant round of investment in Transcend as it provides the disruption the packaging industry was calling out for. Whether it is for food service business, groceries or the PPE market, Transcend is excellently placed to help organisations replace the plastics that customers don’t want to buy, and governments are making illegal."
The Goodman Derrick team was led by Dominic Prentis (Partner, Corporate) and Joanna Higton (Partner, Corporate) assisted by Richard Pull (Senior Associate, Corporate) and Hector Freyne (Trainee, Corporate).
For further information
James Caulfield, Head of Business Development, +44 (0)20 7421 7968, email@example.com
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