fast facts

Name of business:
Flextex Ltd

Managing Director:
Mark Davenport

Business description:
Manufacturer of polythene bags, sheets, covers and liners

Kirkham, near Preston


Contact number:
01772 671509

how we can help you

If you have an interest in a business, you should really take time to consider your exit strategy. The earlier you start thinking about your exit, the more scope you have for achieving your next objectives.

We have vast experience in helping people to plan and implement their exit from their business. Areas in which we can help you include:

  • Planning your exit
  • Selling your business
  • Floating a company
  • Exiting a partnership or shareholding
  • Family succession
  • Closing down a business

Warehousefinding the ideal solution

WHEN it comes to flexible packaging, Flextex has the business wrapped up!

Bill Bird, who set up the Kirkham business with Mike Martin 23 years ago, said: “Anything you want covered in polythene, we can make a bag to suit.” He believes that the company, which provides bags from the thickest to the thinnest gauges, is the most versatile in the country. Most things that you buy have to be covered in polythene to keep them hygienic. Your new mattress might well be covered in a Flextex wrap. And when the agents for a leading manufacturer of disposable and hygiene products want polythene covers for their two to three ton rolls of paper used in the manufacture of toilet paper or kitchen roll they turn to Flextex. Pallets used in manufacturing processes nationwide are all covered in the firm’s polythene. They even provide wrapping for tiny three-packs of biros. On a more macabre note, Flextex manufactures the white opaque liners for coffins! Bill said: "We are unique because we offer a full range of products."

"Cassons found the buyer and negotiated the deal. We had a good working relationship with Ashley and there was always somebody on hand when we wanted information. What's more they were so knowledgeable!"

Bill Bird

The secret of success in difficult economic times is staying ahead of the competition. If an agent has green concerns Bill can provide bio-degradable polymers.

Bill and Mike have liaised with engineers to develop the most up-to-date machines to produce the bags. Bill said: "Machines with servo-driven electronics are more reliable and quicker and easier to operate."

For Bill every day is a challenge as the company is constantly being asked to provide different forms of packaging. "We have many requests every day and we are always able to work out the dimensions of the bag that will do the job."

One of the company’s most recent challenges was finding a buyer for the business and negotiating a deal. For this job Flextex called upon the corporate finance skills of Cassons.

WarehouseAshley Hayman, Cassons corporate finance partner explained: "We initially approached Flexed because we had a buyer who was very interested in their company. That buyer eventually pulled out. But Bill and Mike were keen to sell, so they asked us to find them a buyer!"

Cassons then undertook the job of finding a buyer for Flextex. They created an "information memorandum" with a full description of the business, its position in the market, and financial information including three-year projections. Ashley and his team then undertook the hunt for a buyer by approaching other businesses in the industry and by making the opportunity known within the corporate finance community. Ashley continued: "We soon had 3 serious enquiries and had several meetings to establish where the best fit was going to be."

The buyer was quickly identified as being Mark Davenport who has a strong history in the disposable nappy business which has significant parallels with Flextex. The deal was agreed in principle and the Heads of Terms were drawn up. Mark’s team carried out the due diligence over which Ashley and his team had a watching brief to ensure it all went well, and the deal was soon completed.

Ashley Hayman"We approached Flextex because we had a buyer who was very interested in their company. That buyer eventually pulled out. But Bill and Mike were keen to sell, so they asked us to find them a buyer!"

Ashley Hayman, Partner, Cassons

Bill explained: "We had a good working relationship with Ashley and Robin and found there was always somebody on hand when we wanted information. What’s more they were so knowledgeable!"

Bill and Mike are both staying with Flextex for a period to ensure a smooth transition. Bill will stay as a director for the foreseeable future and Mike is staying on a consultancy basis for a shorter time before a well earned retirement. Mark Davenport, the buyer, is the new Managing Director at Flextex.

Flextex is a firm that has moved, and continues to move, with the times, with the ideal solution being found for its two founders.

Please contact us to find out how we can help you and your business. Contact us