 |
|
Management buys £12m subsidiary
A Yorkshire-based print and marketing communications services company has decided to sell its operations in Bath for an eight-figure sum. Communisis 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. He adds: '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.
Related Articles |
Interesting links
Other Sector Watch
- 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 - Sowing the seed Mar 03 2008
M&A News
- Qatar National Bank deal shows consolidation trend Aug 28 2008
- Provident on the lookout for friends Aug 28 2008
- Blooming acquisition for United Online Aug 27 2008
- Triton finds its sea legs Aug 27 2008
- Credit Suisse invests in asset management company Aug 26 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
- Funding boost for Durham Pipeline Technology Aug 28 2008
- Liverpool Victoria races off with Highway Aug 28 2008
- Serco acquires SI International Aug 27 2008
- Proventec cleans up
with German deal Aug 27 2008 - Hill & Smith’s US window of opportunity Aug 26 2008
Business Diary
- Rosenblatt New Energy Awards 2009 27th February
- Enterprise Security 2008 25th September
- European Semantic Technology Conference 2008 24th September
- Business XL How to float on AIM 11th September
- Investor AllStars Venture Capital Awards 2008 16th September