Label producer GT4 expands with acquisition of TPL Labels
Lanarkshire-based label and packaging group GT4 has extended its portfolio by buying label manufacturer TPL Labels.
The deal was backed by a £5m investment by the Scottish Loan Fund (SLF).
GT4 is the parent company of Blantyre-based Gavin Watson Ltd, which specialises in wet glue label manufacturing for the spirits, coffee, food, water and beverage sectors.
TPL is a pressure-sensitive label manufacturer headquartered in East Kilbride.
GT4 said the strategic acquisition would extend the breadth of its services, providing its clients with a "one-stop-shop" for all their labelling needs.
Gavin Watson employs 70 staff and serves blue-chip customers such as Nestle, AG Barr, Diageo, Innocent and Baxter's Food Group.
The cornerstone investor in the Scottish Loan Fund is Scottish Enterprise's investment arm, the Scottish Investment Bank. The fund is managed by Maven Capital Partners.
Maven investment director Julie Glenny said: "This acquisition by The GT4 Group makes strategic sense on a number of levels and provides significant cross-selling opportunities across both operations."