BRUSSELS, July 2, 2020 (PPI Europe) -The London-based private equity house IW Capital has completed a £10 million ($12.4 million) round of growth equity and debt investment for Transcend Packaging, a sustainable packaging specialist targeting the replacement of single-use plastics with paper- and fiber-based alternatives.
Transcend Packaging was established in 2017 to provide sustainable packaging solutions to customers in the food service, food and beverage and health and beauty industries. The company operates a manufacturing facility in South Wales that began production in 2018 and was the first major producer of paper straws in the UK. Since its founding, Transcend Packaging has seen significant growth and partnerships with leading consumer brands, where its digital printing and specialty coating technology has allowed paper straws, cups and food containers to replace their plastic counterparts. The company has also recently launched home-compostable, certified personal protective equipment.
“We are excited to help lead Transcend in the next chapter of their development. The business has shown significant innovation during COVID-19 […]. We believe this investment will help enable them to scale to a global industry leader,” IW Capital investment director Douglas Lidgitt commented in a statement.