Plastics Capital plc (AIM:PLA) acquired Synpac Ltd for £3.1 million in cash on July 15, 2016. Under the terms, the consideration will be paid as £2.79 million upon completion and £0.31 million is payable 12 months following completion subject to there being no warranty claims. The consideration will be financed by extended existing debt facility with Barclays Bank plc. The fixed assets on Synpac's balance sheet included its factory and head office which was last valued at £0.7 million will not form part of the transaction. For the year ending May 31, 2015, Synpac reported revenues of £4.4 million and net assets of £3 million. The deal is expected to be earnings enhancing in the first full financial year following completion for Plastics Capital. Mark Connelly and Callum Davidson of Cenkos Securities acted as financial advisors and joint brokers, David Hart and Katrina Perez of Allenby Capital Limited acted as joint brokers and Paul Cornelius and Helen Cresswell of Walbrook PR Ltd acted as public relations advisors to Plastics Capital. Doug Land, Nicola Curry and Teresa Wilcocks of CMS Cameron McKenna Nabarro Olswang LLP acted as legal advisors for Synpac Limited. Plastics Capital plc (AIM:PLA) completed the acquisition of Synpac Ltd on July 15, 2016.