Precision Card Services (PCS), one of the UK’s leading manufacturers of fully recyclable plastic cards and associated services has been acquired by Woodberry Packaging Ltd from original PCS founder Tim Holt.
Having started the business in 1993, Tim more recently bought out his co-founder Rob Nicholls, in 2021 to take sole control of the business, but has decided it is now time to take a step back and focus on new projects.
Woodberry Packaging is a wholly owned subsidiary of Woodberry Capital, a non-institutional private equity firm that invests in businesses with the potential for long-term value creation. Woodberry Capital is led by Patrick Doran who has extensive experience in the print and packaging sector having owned Americk Packaging, which was sold in 2016.
Tim Holt said, “It is clear to me that the team at Woodberry Capital completely understand the strengths of PCS and the culture and ethos that has made it into what it is today, and with their investment and knowledge, I have no doubt that PCS will thrive in the future.
”Adam Unsworth, Managing Director commented, “We will all be sad to see Tim go, but with the backing of Woodberry Packaging this is a real boost for PCS, and we are certainly set for exciting times ahead!”
Patrick Doran, the CEO and Founder of Woodberry Capital added “We are very pleased to announce the acquisition of PCS as we continue to expand our operations and expertise in the sector. PCS has consistently led the way in the card market, and its capabilities strongly complement our other print and packaging businesses, and we are confident of its long-term growth as part of Woodberry Packaging. We look forward to working with Adam, the management team, and employees as PCS continues to develop in the coming years.”