The Consolidation Continues

Dealmaking accelerated during 2024 and 2025, with events in 2026 confirming that consolidation remains a defining industry trend. From manufacturing and product authentication to digital identity and banknote printing, companies are reshaping their portfolios through strategic acquisitions.

The following transactions highlight how the acquisition landscape is evolving.

Industrial labels and packaging

Belgian-headquartered Asteria Group, which is backed by Waterland Private Equity, has acquired Mercian Labels, a self-adhesive label converter based in Burntwood, Staffordshire. This is Asteria’s 41st acquisition and further strengthens its manufacturing presence in the UK. International law firm Hill Dickinson advised Asteria Group on the transaction.

Founded in 1969, Mercian Labels specialises in tamper-evident and security labels that support product protection and traceability for higher-value goods. Its LabelLock range includes microtext, in-register void messages, unique sub-surface printed codes, and resistance to temperature and chemical attack.