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Matrix backs Blaze acquisition

By on September 20 2007

Blaze Signs Holdings has received a second tranche of funding from Matrix Private Equity Partners to acquire Active Sign Maintenance. Lloyds TSB Corporate Markets provided an additional term loan and working capital facilities.

Combined, the group’s annual turnover will be £20 million with 260 employees.

Matrix first backed the Blaze management team in April 2006, investing £1.6 million in their £5 million secondary buy-out of Blaze from Dunedin Capital Partners.

Blaze manufactures illuminated signs for national and international multi-site retailers and financial institutions. Customers include Tesco, Sainsbury’s, Royal Bank of Scotland and Euro Disney.

Active Sign Maintenance was established in 1995 and its customers include B&Q, Halifax Bank of Scotland, Marks & Spencer and Sainsbury’s. MD, Phil Sharman will continue to run Active and will join Blaze’s board.

Both businesses are based in Kent, although Active will be consolidated onto Blaze’s existing site in Broadstairs. There will be no job losses, says Matrix.

Eric Tung and Jonathan Gregory led the deal for Matrix and Tung is a non-executive director of Blaze.

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