SMURFIT WESTROCK CONSUMER BELFAST LIMITED
Opportunity 67/100 (strong), bankability 77/100. Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 10 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (38/100).
Refinance opportunity
14 live charges · 10 lenders · oldest 18.8y
Structure is too messy for a clean refinance right now — clean up first or expect bespoke terms.
- · Oldest live charge is 18.8 years old — likely at or near maturity.
- · 10 lenders named — inter-creditor friction likely.
- · Legal-friction score 53/100 (high).
Data confidence
Overall: medium (60/100)Adequate coverage. AI outputs are reliable for the sections scored high; verify the rest in diligence.
Solid opportunity signal. Worth a dedicated memo and management meeting.
Recent activity
- • 1 officers
- • 1 officers
- • 1 change-of-name
- • 1 accounts
Corporate timeline (109 events)Click to expand
- 2026-04-20📄termination-director-company-with-name-termination-dateofficers · TM01
- 2026-04-17➖DRENNAN, Jonathan resigneddirector
- 2026-02-27✏️certificate-change-of-name-companychange-of-name · CERTNM
- 2025-12-04📄accounts-with-accounts-type-fullaccounts · AA
- 2025-06-10➕HOWLETT, Robert appointeddirector
- 2025-06-10➖CULLEN, Emma resigneddirector
- 2025-06-10➕DRENNAN, Jonathan appointeddirector
- 2025-06-10➖FOGARTY, Morgan resigneddirector
- 2025-06-10📄appoint-person-director-company-with-name-dateofficers · AP01
- 2025-06-10📄appoint-person-director-company-with-name-dateofficers · AP01
- 2025-06-10📄termination-director-company-with-name-termination-dateofficers · TM01
- 2025-06-10📄termination-director-company-with-name-termination-dateofficers · TM01
- 2025-04-04📄appoint-person-director-company-with-name-dateofficers · AP01
- 2025-04-04📄appoint-person-director-company-with-name-dateofficers · AP01
- 2025-04-04📄appoint-person-director-company-with-name-dateofficers · AP01
- 2025-04-04📄termination-director-company-with-name-termination-dateofficers · TM01
- 2025-04-04📄termination-director-company-with-name-termination-dateofficers · TM01
- 2025-04-04📄termination-director-company-with-name-termination-dateofficers · TM01
- 2025-04-04📄termination-director-company-with-name-termination-dateofficers · TM01
- 2025-03-27➕MCMAUGH, Eamon appointeddirector
- 2025-03-27➕CULLEN, Emma appointeddirector
- 2025-03-27➖DARRINGTON, Andrew resigneddirector
- 2025-03-27➕FOGARTY, Morgan appointeddirector
- 2025-03-27➖NICKERSON, Steven Billings resigneddirector
- 2025-03-27➖SHAW, Mark resigneddirector
- 2025-03-27➖WILKINSON, Neil resigneddirector
- 2024-10-17📄accounts-with-accounts-type-fullaccounts · AA
- 2024-08-08📄change-account-reference-date-company-current-extendedaccounts · AA01
- 2023-01-19📄accounts-with-accounts-type-fullaccounts · AA
- 2022-07-14📄accounts-with-accounts-type-fullaccounts · AA
- 2021-11-04📄appoint-person-director-company-with-name-dateofficers · AP01
- 2021-11-04📄termination-director-company-with-name-termination-dateofficers · TM01
- 2021-11-03➖MAXWELL, Kevin Alden resigneddirector
- 2021-11-03➕NICKERSON, Steven Billings appointeddirector
- 2021-08-24➕SHAW, Mark appointeddirector
- 2021-08-24➖WENHAM, Mark John resigneddirector
- 2019-11-28➖PRIESTLEY, Mark Richard resignedsecretary
- 2019-11-28➕MAXWELL, Kevin Alden appointeddirector
- 2019-11-28➖PRIESTLEY, Mark Richard resigneddirector
- 2019-11-28➕WILKINSON, Neil appointeddirector
- 2017-09-06➖SMITH, Ricki Brent resigneddirector
- 2017-06-09🔓Charge satisfied #14
- 2017-06-09🔓Charge satisfied #13
- 2017-06-09🔓Charge satisfied #12
- 2017-06-09🔓Charge satisfied #11
- 2017-06-09🔓Charge satisfied #10
- 2017-02-10➕DARRINGTON, Andrew appointeddirector
- 2017-02-10➖REGNIERS, Yves Luc resigneddirector
- 2017-02-10➕WENHAM, Mark John appointeddirector
- 2017-01-04🔒Charge registered #14Lender: Barclays Bank PLC (As Collateral Agent)
Owner dependency
Some founder dependency, but not acute. A structured handover period should cover most risk.
- +Two-director setup: Only two active directors — typical of owner-managed SMEs but limits succession.
Succession & seller-readiness
Limited succession signal. Not a near-term off-market candidate.
- secondaryTwo-director governance: Small-team governance. Succession depth is thin but not absent.
Red flags
3 med ·Multiple recent departures can indicate governance disagreement, succession event, or preparation for sale/stress.
Evidence: CULLEN, Emma resigned 2025-06-10; DRENNAN, Jonathan resigned 2026-04-17; FOGARTY, Morgan resigned 2025-06-10
Multiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.
Name changes can be benign (rebrand) but can also precede distress, phoenix activity, or buyer concealment.
Evidence: 2026-02-27: certificate-change-of-name-company
Group structure
William W Cleland Holdings Limited is the ultimate parent — holding 75%+ shares. This company sits inside their group.
Parent relationships inferred from Persons with Significant Control filings. Full subsidiary tree requires reverse-lookup (coming).
Shareholders & ownership
1 active beneficial owner · dominant holder ≥75%| Name | Shares | Voting rights | Nature of control | Notified |
|---|---|---|---|---|
William W Cleland Holdings Limited Corporate entity | 75–100% | 75–100% | board control75-100% shares · 75-100% voting · board control | 06/04/2016 |
From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.
Radial SVG graph showing every company connected via shared directors, colour-coded by status.
Available from the Pro tier upwards.
See pricing →Similar companies
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6 specific questions generated from this company's actual signals — liquidity, leverage, director age, charge count, red flags, age-of-company.
Available from the Pro tier upwards.
See pricing →Exit-route ranking, improvement thesis, quiet-distress detector, covenant-pressure proxy, extraction monitor, approaching triggers, ownership drift, local cluster, value trap, debt capacity, archetype classification — 48+ scoring modules.
Available from the Pro tier upwards.
See pricing →Company details
Registered office
Filing status
Officers (2 active · 29 resigned)
Click a director name to see their full track record across all companies.
Mortgages & charges
| Type | Properties | |||||
|---|---|---|---|---|---|---|
| satisfied | Barclays Barclays Bank PLC (As Collateral Agent) | A registered charge | — | 04/01/2017 | 09/06/2017 | |
| satisfied | Barclays Barclays Bank PLC (As Collateral Agent) | A registered charge | — | 03/02/2015 | 09/06/2017 | |
| satisfied | Barclays Barclays Bank PLC (The “Collateral Agent”) | A registered charge | — | 16/05/2014 | 09/06/2017 | |
| satisfied | Barclays Barclays Bank PLC (As "Collateral Agent") | A registered charge | 1 property | 14/02/2014 | 09/06/2017 | |
| satisfied | Barclays Barclays Bank PLC as Security Trustee for the Secured Parties | A registered charge | 1 property | 16/12/2013 | 09/06/2017 | |
| satisfied | Lloyds Banking Group Lloyds Tsb Commercial Finance Limited as Security Trustee for the Secured Parties | Chattels mortgage | 1 property | 19/09/2011 | 30/10/2013 | |
| satisfied | Lloyds Banking Group Lloyds Tsb Bank PLC | Omnibus guarantee and set-off agreement | 1 property | 05/10/2010 | 30/10/2013 | |
| satisfied | Lloyds Banking Group Lloyds Tsb Commercial Finance Limited | Debenture | 1 property | 05/10/2010 | 30/10/2013 | |
| satisfied | Lloyds Banking Group Lloyds Tsb Commercial Finance Limited | Chattels mortgage | 1 property | 05/10/2010 | 30/10/2013 | |
| satisfied | Lloyds Banking Group Lloyds Tsb Bank PLC | Debenture deed | 1 property | 05/10/2010 | 30/10/2013 | |
| satisfied | Chesapeake Holdings Bv | Debenture | 2 properties | 29/05/2009 | 04/01/2011 | |
| satisfied | Wachovia Bank, National Association | Debenture | 2 properties | 30/12/2008 | 11/06/2009 | |
| satisfied | Wachovia Bank, National Association | Debenture | 2 properties | 19/05/2008 | 11/06/2009 | |
| satisfied | Allied Irish Banks Allied Irish Banks PLC | Mortgage or charge | 1 property | 03/08/2007 | 10/06/2008 |