Tissue manufacturer Accrol valued at £116m

By Dean

10 Jun 2016

NorthEdge Capital, the private equity firm focussed on the North of England, has achieved its first exit as Accrol floats on the public market with an enterprise value of £116m and a market capitalisation of £93m.

NorthEdge will retain a 15.04 per cent stake in the company, which has commenced trading under the stock ticker ACRL:LN. Its first day of dealing on the AIM market of the London Stock Exchange commenced at 8am today.

Accrol is a leading tissue paper convertor based in Blackburn. It currently manufactures around 16 million units per week and supplies some of the UK’s largest retailers including Tesco, Aldi, Morrisons, Bookers and Wilkinsons.

NorthEdge backed the company from its maiden £225m fund, taking a 46.25 per cent stake.

The transaction is the firm’s first flotation and marks a partial exit for NorthEdge investors in less than two years. Dan Wright, COO and partner, and George Potts, investment manager, led the transaction for NorthEdge.

Accrol successfully raised approximately £63.5m by placing 63.5 million existing and ordinary shares with investors at a placing price of 100 pence per ordinary share.

Majid Hussain, the outgoing CEO of Accrol, said: “Working with the NorthEdge team has not only helped us to increase the value of Accrol, but  also enabled us to build a more robust business for the future encouraging us to invest in plant and machinery to increase capacity.

"Not only did the team provide funding for growth, but we also gained strategic leadership as well as a top quality management team. The Enterprise Value has grown from £60m to £116m in under two years and NorthEdge’s support was instrumental in getting the business to this stage.”

Dan Wright, partner, chief operating officer and head of portfolio at NorthEdge Capital, said: “It has been a pleasure working with the management team at Accrol. "The business has grown to become a dominant player in the market and the IPO will support the Company’s continued expansion plans and demonstrates our ability to deliver two-step exits at enhanced value. The public markets remain a viable exit route for a number of our assets and we will continue to partner with founding teams to deliver a two-step exit  at an enhanced value.”

Enjoyed this? Read more from Dean

Latest news

1

Leyland Trucks celebrates more than 1,700 years of combined long service Leyland Trucks staff celebrating

Leyland Trucks celebrates more than 1,700 years of combined long service

01 May 2025

2

Chiptech announces major innovation initiative at high-profile reception with the New Zealand Prime Minister in London. The Rt Hon Jonathan Reynolds, the Rt Hon Christopher Luxon and the Rt Hon Steve Reed (L-R Front Row) David Hammond, and Daniel Knowles

Chiptech announces major innovation initiative at high-profile reception with the New Zealand Prime Minister in London.

30 Apr 2025

3

Northstone secures full planning permission for 50 new homes in Edenfield Edenfield housing development

Northstone secures full planning permission for 50 new homes in Edenfield

29 Apr 2025

4

Ring Stones Maintenance and Construction celebrates completion of Dovestone Gardens Dovestone Gardens launch

Ring Stones Maintenance and Construction celebrates completion of Dovestone Gardens

29 Apr 2025

5

PHX Training welcomes new business leader to drive learner success Louise Kirby

PHX Training welcomes new business leader to drive learner success

29 Apr 2025

Pc Prestonmacan Gif980x120 March
Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
LBV122 May/June Launch Event
121 Lancashire Business View Magazine Launch
Networking
21 May 2025

LBV122 May/June Launch Event

Lancaster and Morecambe College, Lancaster, LA1 2TY

08:30 - 10:30

Sub36 Networking
Networking
11 Jun 2025

Sub36 Networking

British Jewellery School, Scorton, PR3 1BA

15:00 - 17:00

Lancashire Net Zero Carbon Conference
Net Zero Carbon Social 1200px 2
Networking
18 Jun 2025

Lancashire Net Zero Carbon Conference

Crow Wood Hotel & Spa Resort, Burnley, BB12 0RT

08:30 - 13:00

Lancashire Built Environment Conference 2025
BEC 315 X 315 Px
Networking
25 Sep 2025

Lancashire Built Environment Conference 2025

Blackpool Football Club, Blackpool, FY1 6HX

08:30 - 13:00

CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

CMI Level 5 Project Management Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Project Management Course

Preston Campus, Preston, PR1 2HE

08:00 - 17:00

RISE - The Academy for Female Leaders and Managers
WENDY BOWERS RISE Illustrstion copy.jpg.jpg
LBV Hub Seminars
02 Apr 2025 - 08 Oct 2025

RISE - The Academy for Female Leaders and Managers

East Lancashire Chamber of Commerce, Clayton le Moors, BB5 5JR

09:00 - 15:30

Planning for the future + navigating Inheritance Tax changes
Planning for the future + navigating Inheritance Tax changes for website.png.png
LBV Hub Seminars
01 May 2025 - 01 May 2025

Planning for the future + navigating Inheritance Tax changes

Stanley House Hotel, Mellor, Blackburn, BB2 7NP, Blackburn, BB2 7NP

08:00 - 10:30

A night at the races
1.png.png
LBV Hub Dinners / Balls
02 May 2025 - 02 May 2025

A night at the races

Morecambe FC, Morecambe, LA4 4TB

19:00 - 23:59

Advantage: AI – A Workshop for Business Leaders – May 2
EV-land-2025-05B.png.png
LBV Hub Seminars
02 May 2025 - 02 May 2025

Advantage: AI – A Workshop for Business Leaders – May 2

Door4 Office, Burnley Wharf, Manchester Road, Burnley, BB11 1JG

09:00 - 11:00

Innovating business solutions through PhD Partnerships
30478 Skills Bootcamp open day setting.jpg.jpg
LBV Hub Networking
07 May 2025 - 07 May 2025

Innovating business solutions through PhD Partnerships

University of Central Lancashire, Preston , PR1 2HE

14:30 - 15:30

Celebrating 50 years of KTP
UCLanAerialCampus.jpg.jpg
LBV Hub Networking
07 May 2025 - 07 May 2025

Celebrating 50 years of KTP

University of Central Lancashire , Preston, PR1 2HE

16:00 - 18:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more Lbv121 Online Graphic
Subscribe now

Weekly news bulletin