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Cardinal Brands in MBO
Cardinal Brands Ltd, a UK-based manufacturer of carbonless stationery products established in 2002, has been sold in a management buy-out led by MD Michael Deane. The terms of the deal were not disclosed.
The deal was backed by independent invoice finance and asset-based lender Venture Finance. Deane commented, “Conscious of the current economic climate, Venture was the only company able to deliver a package that included the Small Firms Loan Guarantee – something that will boost our cash flow immediately.”
Fraser Irvine, Venture Finance’s business development manager, said, “Michael’s got a lot of exciting plans and ideas for the company. The potential they could achieve as they enter this new phase in the business is incredible.
“We’re really pleased that we can help Cardinal Brands move forward and become the organisation it deserves to be. Our tailor-made package ensures that Cardinal Brands gets the best deal and financial security that suits it.”
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