Yorkshire-based investor Enact, which is managed by private equity firm Endless, bought the company from its family owners for an undisclosed fee. Headquartered in Lutterworth, Leicestershire, PAL was founded in 1970 and provides hygiene products and infection control in healthcare, food manufacturing and industrial markets.
"Enact is a long-standing client of WBD and we are delighted to have advised them on this latest investment, which will support the growth and development of PAL's brand. Our strong private equity credentials coupled with our sector expertise meant we were able to provide commercially-driven legal expertise for our client."
Enact invests transformational capital of up to £5m into UK-based SMEs. Its fund includes successful entrepreneurs, existing and former board members of successful Yorkshire businesses and management from former portfolio companies.
Chris Cormack, Partner at Enact, said:
"We are delighted to acquire PAL and provide the investment needed to recapitalise the business. The PAL brand is recognised and trusted worldwide and has an excellent reputation in the highly regulated markets in which it operates."
Paul Denvers, Investor Director at Enact, further added:
“We are looking forward to supporting the management team to take advantage of a number of identified market opportunities which will enable further growth and development of the PAL brand. James, Simon and David of the Womble Bond Dickinson team offered crucial advice and their specialisms were essential in ensuring a smooth completion."