Thu, 04 Mar 2021 | BUSINESS SALE
Cheshire-based packaging software firm AutoCoding Systems Ltd has been sold to global food tech giant JBT Corporation for £12.5 million, a 2.5x multiple of its reported £5 million turnover.
AutoCoding Systems is a specialist in automated, integrated software systems for food labelling and date codes. Its acquisition expands JBT's capabilities in areas such as label inspection, verification and coding.
AutoCoding System also operates in Australia and the US. Victoria Zivkovic, of law firm Irwin Mitchell, who worked on the deal said that the acquisition “recognises its international strength as a specialist provider in packaging line automation solutions.”
JBT President and CEO Brian Deck commented: “AutoCoding’s offering embodies JBT’s broader mission to make better use of the world’s precious resources by providing a solution that substantially enhances our customers’ success.”
“The acquisition also expands our capabilities in the large and growing global market for in-line coding and inspection solutions, which includes hardware and software for food and beverage, pharmaceutical, and nutraceutical customers”, Deck added.
AutoCoding Systems MD Mike Hughes added: “This is an exciting time for AutoCoding Systems in the UK, US and Australia. With the support of JBT and their wealth of experience across multiple businesses supplying the food and beverage industry, including Proseal, AutoCoding Systems can expand their reach into previously untapped markets for packaging line automation software.”
Find businesses for sale here.
If you are looking for an exit, we can help!
Well-established company operating for nearly 35 years. A wide range of timber products are produced and tested for energy efficiency under the BSI Kitemark scheme. Produces timber sash windows, PVC sash windows, timber casement windows and doors, bi...
LEASEHOLD
A highly regarded provider of high-quality plain and printed self-adhesive roll labels to a global market.
FREEHOLD
Provides a one-stop shop service for steel fabrication requirements, offering cut and drill work, galvanising, painting and shot blasting. Caters to 20 clients who provide repeat business on a regular basis, and many more who request work when requir...
LEASEHOLD
|
02
|
|
Aug
|
Victoria’s Secret UK placed into liquidation | ADMINISTRATION
It has been announced that lingerie retailer Victoria’...
|
30
|
|
Jul
|
UK insolvencies rise 31 per cent in Q2 | BUSINESS NEWS
According to figures from The Insolvency Service, company in...
|
30
|
|
Jul
|
Newcastle-based construction firm enters administration | ADMINISTRATION
Newcastle-based contractor Kapex Construction Limited has en...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources