UK paper packaging company secures £10m investment
Today, Transcend Packaging, a sustainable packaging company, completed a combined equity and debt investment round of £10m.
The cornerstone of the equity round was based on an investment from London based IW Capital, a private equity firm focused on high growth, small and medium-sized enterprises.
The investment will allow Transcend to further its mission to rid the world of single-use plastics. Over the past two years, Transcend has established itself as Europe’s leading producer of paper straws, and recently launched the first of its kind, home-compostable, CE certified PPE. Transcend, which counts McDonald’s as a client, is focused upon creating fully compostable, paper and fibre-based alternatives to plastic packaging using state of the art digital printing techniques and speciality paper coatings. This allows it to create products with the same performance as plastics without compromising sustainability.
Transcend Packaging began production from its plant in South Wales in 2018 after its founders were inspired by David Attenborough’s Blue Planet.
Gabriel Fysh, Transcend Packaging Co-Founder and Director said: “We’re delighted to be backed by IW Capital as we focus our efforts on becoming a global leader in sustainable packaging. 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, CEO 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.”