 |
|
Management buys £12m subsidiary
A Yorkshire-based print and marketing communication services specialist has decided to sell its operations in Bath for an eight-figure sum.
Communisis plc is to dispose of the business to its management for more than £12 million. On completion some £8 million will be paid in cash with the balance due by July 2012.
The target business comprises Bath Business Forms, a manufacturer of business forms stationery, and Economailer, a specialised payroll products company. As part of the buy-out agreement, the Bath operation will continue to supply the Leeds-based group.
Communisis chief executive Steve Vaughan said the group’s Bath business does not fit with its strategy of focusing on its marketing communications interests. “We are therefore exiting this non-core part of our business for a cash consideration and in a non-dilutive way, leaving us free to concentrate on the higher value, growing parts of our business and accelerate their growth.”
In the year to January 2008, the target business made a pre-tax profit of £1.55 million.
People also read ... |
Related Articles |
Interesting links
Other Sector Watch
- Investment veteran airs fears over UK biotech Oct 21 2008
- Talking rubbish Jul 28 2008
- Crisis?– what crisis? Jul 01 2008
- Let the
drilling begin
May 13 2008 - Bargains on the high street
Mar 13 2008
M&A News
- Corporates idealistic about M&A Dec 02 2008
- Conference takes M&A global Dec 02 2008
- RedHot Media buys AllChina advertising stake Dec 02 2008
- ESI Group’s US software deal Dec 01 2008
- Adecco takes controlling stake in DNC Dec 01 2008
Special Offers
- 2008 AIM Guide: Jul 17 2007
- Growth Company Investor Magazine: Jul 17 2007
- Cash Shells 2007 - Research report Jul 17 2007
- Venture Capital Trusts Jul 04 2007
M&A Deals
- IMS Maxims acquires CSW assets Dec 02 2008
- Intertek deal to test Eastern Europe Dec 02 2008
- Ultra Electronics gains MidEast foothold Dec 01 2008
- Home Retail buys Alba and Bush trademarks Nov 27 2008
- Internacionale closes Mark One fashion deal Nov 26 2008
Business Diary
- M&A Expanding internationally 27th November
- Rosenblatt New Energy Awards 2009 25th February