Tue, 24 Jun 2014 | MBO/MBI
A Cambridgeshire printing firm has changed following a management buyout.
Macro Art is a specialist wide-format digital printing business, which has created building wraps for Selfridges' and Harrods' London stores. It has been announced that YFM Equity Partners, which has offices in Leeds and Sheffield, has committed £2.1m towards the MBO.
John Walker, a pioneer of wide-format printing, founded the company in 1992 with his wife Gretchen. Following Mr Walker’s death, his wife decided to sell the firm to the management team.
Backed by YFM, the MBO is being led by managing director James Jennings, commercial director Michael Green and sales director Matt Guise. There is also a group of new investors and non-executive management including: David Sadler as chairman, formerly chief executive and major shareholder of Aardvark Group now part of the Penman Group; Nigel Luckett, currently a non-executive director at YFM portfolio company Pressure Technologies; and Chris Gregory, founder of corporate finance advisers Orbis Partners.
Martin Jinks at Roythornes in Peterborough was the legal adviser for the vendor while Andrew Stilton of Keystone Law in the Midlands provided legal advice for the management team.
Mary Broadhead, investment director at YFM Equity Partners, who led the deal, commented: "We are delighted to support James and the team as they prepare to capitalise on the increased marketing spend of companies and organisations throughout the UK and Europe and invest in the latest high-tech printing equipment to support their growth plans."
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