Mon, 05 Aug 2024 | MBO/MBI
A Leicestershire-based publishing company has been acquired in a management buyout (MBO). Troubador Publishing has been acquired by former New Business Development Manager Alex Thompson, now Managing Director, and former Customer Service Manager Chloe May, now Operational Director.
The pair, who have both been at the company for more than two years, have acquired the business from founders Jeremy Thompson and Jane Rowland, who have stepped down as directors.
The new owners are said to have been instrumental in Troubador’s growth over recent years, including the introduction of the Troubador Hub service and the incorporation of new technology into the business.
Troubadour Publishing dates back to 1989 and works with independent authors to produce, market, distribute and sell their books. The business became a limited company in 1996 and has grown to have a team of 29 staff and publish thousands of books.
Following the MBO, outgoing director Jeremy Thompson commented: "Troubador is in a good position at the moment following the last few years of COVID and the cost of living crisis, and much of that is down to Alex and Chloe having brought a new perspective to the company in a changing world.
"It is because of our confidence in them, having seen the positive influence they have brought in the last two years, that my co-director Jane and I feel now is the right time to step down. We are absolutely sure that they will provide strong leadership while retaining Troubador's ethos of quality and excellent customer service."
Thompson said that the business would essentially continue “as is” following the MBO and added: "It is the team members who make the company successful, and without doubt the staff Troubador now has is by far the most skilled and professional that we have ever had. I wish all our authors, staff and new directors the very best for the future at Troubador."
In a difficult environment for business owners seeking to exit, MBOs are becoming an increasingly popular succession option
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