CASE STUDY
PRIMEPAC SOLUTIONS LTD
Background
PrimePac Solutions was set up in 2005 following closure of a Dutch-owned packaging company in Ebbw Vale. Nineteen former employees used their redundancy money to set up a new business with help from Wales Co-operative Centre and Co-operative & Community Finance.
The business has now grown to over 50 employees and an annual turnover of £3m. It has major customers in the homecare, gardening, health and personal care sectors.
What was the loan used for?
Co-op Loan Fund provided a loan to help with increased production demand and cashflow. This came at a time when the plant were inundated with orders to package sanitising and cleaning products during the Covid-19 pandemic, highlighting PrimePac as a flexible contractor working and prospering in challenging and uncertain times.
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Supporting Industrial co-ops and worker buyoutss
Operating across sectors like technology, manufacturing, packaging and food service, Industrial co-ops promote mutual business practices and models that often provide performance resilience in the face of challenging economic conditions.
Co-op Loan Fund fully support the sector and in particular worker buyouts, which don’t just save enterprises from closure but also help to preserve invaluable skills, knowledge and training that contribute to strengthening the UK economy and labour market as a whole.