Investec backs Communisis MBO
Article Date: Jul 08 2008The business stationery division of print management company Communisis has undergone a management buy-out (MBO). The deal was made possible by an asset-based loan of £13 million from private bank Investec.
The acquired business, based in Bath in Somerset, manufactures customised business stationery for its clients, which will now include its parent company. The buy-out also includes the Economailer business, which specialises in payroll products.
Mark Cornford is managing director of the so far unnamed new operating company. He comments: ‘The MBO presents a tremendous opportunity. We are well invested, operate from a 290,000 sq ft site and no one within the UK has the scale or the breadth of product offering that we do.’
Cornford adds that the business has secured new orders across all its products as a result of the announcement.
Investec backed the deal through its growth and acquisition finance division, which typically invests between £4 million and £25 million in mid-market companies.
