Deal sees £1.5m turnover printing business acquired
Deal sees £1.5m turnover printing business acquired
We place great emphasis on our high quality relationships with other professional advisers. We believe that by working alongside the best lenders, lawyers and insolvency practitioners we can offer a fully rounded service that the modern entrepreneur expects.
A deal which saw one of our clients in the printing sector acquired has been completed successfully as a result of proactive teamwork with other professional advisers.
When one of our long-standing clients faced severe cashflow difficulties we were able to work closely with the directors and senior management team and other professional advisors to source buyers for the business, who could take it forward as a going concern.
The business, a successful owner managed business had been trading for more than 15 years. Earlier this year it faced extra challenges due to reduced demand for its specialist glass printing as well as stiff competition from overseas competitors.
Sadly, as margins continued to be squeezed, and after exhausting all other funding options, the directors had no other choice but to place the business in administration.
Working with restructuring specialists
We introduced the directors to SFP Restructuring Limited, the licenced insolvency practitioners, who immediately set to work discreetly marketing the business for sale through its network of contacts, investors and interested parties. After a period of just two weeks, an offer for the business was accepted and the business was acquired by a trade buyer.
The deal meant that the directors of the business could exit and new owners could continue the business with minimal disruption. It was a good deal all round and the business remains in experienced hands moving forwards giving certainty for staff, suppliers and the wider marketplace.
We were very pleased to be able to assist the directors to identify the most suitable exit from the business. Our clients were keen to ensure that the business was passed onto experienced operators, who would continue to use the brand name, maintain the skills developed by their staff and seamlessly integrate a new management team. This was successfully achieved by working closely alongside SFP Group, the restructuring specialists, who were able to move quickly and get the deal done.
Daniel Plant, director of SFP Restructuring Limited, said:
“By working proactively with management as well as the team at Alexander Knight & Co we were able to do all of these things achieving a good result in difficult circumstances.”
