iPac Innovations

Bio

iPac is a manufacturer of thermoform packing for the UK rigid plastic packaging market for food products. Thermoforming is commonly used for food packaging but has many applications from plastic toys to aircraft windscreens to cafeteria trays. Thermoforming describes the process of heating a thermoplastic sheet to its softening point, stretching it over or into a single-sided mold, and holding it in place while it cools and solidifies into the desired shape. The end result of this process at iPac is a product line of customer specific plastic packages, predominantly for food items. 

Deal size

£450,000

Region

Gateshead

Funding need

Expand customer reach    Sales and marketing

Sector

Manufacturing

We are very happy to welcome Maven as a key business partner at this exciting time in our journey. Since commencing production less than two years ago, we have quickly established iPac as key player and innovator in our industry. The funding provided by Maven will allow iPac to deliver the next stage of our growth plan through 2019 and beyond.

Harry Reed
Managing Director of iPac Innovations

Growth Journey

iPac was established in 2016, identifying an opportunity for a new product development and service focussed supplier in the UK thermoform packaging market following high levels of consolidation and deteriorating levels of service. Since inception the business has established a high-quality facility and state-of-the-art thermoform plant and machinery. 

The global thermoformed plastics market size was valued at $11.69 billion in 2018 and is expected to reach $16.28 billion by 2025. The food industry is a major application segment of the market, expected to drive global demand.

The funding will enable iPac to continue to invest in its state-of-the-art facility to deliver on its ambitious expansion plans.

Could the North East Development Capital Fund help support your growth journey?

If you’re running a North East business that’s looking to grow, we’d love to hear from you. Feel free to give us a call to find out more about our flexible funding solutions:

0191 731 8590

 

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