06 May 2019 Paper

Paper industry veterans buy majority slice of Denmaur

The Gould brothers, who sold the family Gould paper business in 2015, have bought a majority share of Denmaur Paper Media.

Denmaur Paper Media is teaming up with Harry Gould Jnr and his brother Robert, paving the way for the paper merchant to expand both “into new markets and territories”.

There is no list of ten projects to begin immediately, says managing director Mike Gee, but ideas to expand into paper related areas have been discussed, he says. “There are some new businesses aligned with the paper industry that we are considering,” says Gee. Denmaur has been increasing the range of cartonboard products it handles and offers the innovative Delipac board for recyclable paper cups and packaging that would otherwise require a film laminate.

Both Gould brothers will take non executive positions in exchange for buying the majority of Denmaur’s shares. It is a return to the paper industry for Harry Gould Jnr. He built Gould Papers to the fourth largest merchant in the US before selling to Japan Pulp and Paper in 2015. That business retains the Gould name used internationally, including in the UK where Gould Paper Sales and Gould Publication Papers operate from offices in Leatherhead.

A non compete period has now ended allowing Harry Gould to return to the sector. Robert Gould was not core to the family business, training as a lawyer and entering the communications industry. He has lived in London for a number of years.

"I’ve been working with Mike on this opportunity for some time and I’m delighted that we have been able to agree on a deal,” says Harry Gould.

“Denmaur Paper Media is a dynamic company with clear growth ambitions. In the UK it is currently the fourth biggest player, so I am kind of starting where I left off and I’m excited about the future where Robert and I will be working with a like minded group of people.”

This was crucial to the deal, says Gee. “We have had other offers over the years. What we liked about this is that it protects our culture. In deals where there is a completely different culture that is new to customers and suppliers, you just alienate everyone. That’s what we liked about Harry and his brother. They have the human factor and why the fit is so good.” Customers, he adds, have welcomed the news and have been positive about the deal.

As part of the deal Mike Gee will stay on for two-and-a-half years while brother Nick has committed to a further five-and-a-half years.

Last year Denmaur celebrated its 35th anniversary with a restructure to strengthen focus on the publishing and commercial print sectors.

By Gareth Ward

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Deal is sealed

Deal is sealed

Harry Gould and Mike Gee seals the deal that has resulted in the Americans taking the majority share in Denmaur. The value of the investment has not been disclosed.

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