Close Brothers Asset Finance has provided start-up funding for Transcend Packaging, a Wales-based firm focused on sustainable paper-based packaging.
The company, since its 2017 launch, has already seen impressive growth and has signed deals to supply paper straws to some of the UK’s leading fast food and coffee chains, including McDonald’s.
It is now seeing an extensive demand from across Europe and North America and claims it is in the process of growing to a target of 200 employees by the end of 2021.
Lorenzo Angelucci, managing director at Transcend Packaging, said: “There has been an increasing demand for sustainability across the packaging industry, mainly because of customer pressure and an increase in regulatory and government waste strategy policies.”
He added: “Paper is taking on an ever-growing and important role in the government’s waste solution strategy and we saw a gap in the market to produce eco-friendly products for the UK and European markets.
“Partnering with Close Brothers Asset Finance was a logical choice because of their long history in the print and packaging sector; they were extremely easy to deal with and they understood from the off-set what my requirements were, advising and actively helping find solutions.”