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enact invests in flexible packaging company excelsior pkbr staff writer


sme fund enact has made a sixfigure investment in flexible packaging company excelsior which specialises in high quality gravure print for the food, confectionery and medical sectors.enact&39s investment is aimed at helping excelsior to continue to grow, both in europe and the us.currently, excelsior employs a staff of 240 with 180 people in deeside, north wales and 60 people in nelson, lancashire, uk.chris cormack, who manages the enact fund on behalf of endless will be joining the excelsior board.the business desk quoted cormack as saying &quotwe are pleased to have the opportunity to make this investment in a high quality packaging company with an excellent product and customer base.&quotexcelsior needs additional funding to allow it to grow its business, and our understanding of the packaging sector will enable endless to contribute to strategy as well as to provide funding.&quotexcelsior&39s ceo nick alexander said &quotexcelsior has capacity in gravure and flexo printed laminated films for food and confectionery packaging, medical films and stand up pouches.&quotin recent years we have seen good growth in europe and the united states and we have plans to grow further. this investment by the endless enact fund, along with an agreed enlargement of our rbs facility, will make significant resources available for investment and to fund additional working capital.&quotenact is a &pound7.5m eis fund that has been launched officially by endless last year. it provides equity investments of between &pound250,000 and &pound2m to companies in the small and mediumsized business market.&nbsp