Jamieson Corporate Finance announces its role in advising Bank of Scotland Corporate and the incumbent management team of Adare Group on the £119.5m secondary buyout from Allen, McGuire Partners Limited and JP Morgan.
Adare Group is a leading print management, mailing and packaging solutions provider employing 1,200 staff across 17 locations, including “in-client” sites with an annual turnover of £160m. It also owns an extensive network of franchised businesses through the Kall Kwik and Prontaprint brands.
A key part of Jamieson Corporate Finance role involved managing the transition within the management team that saw the founder and CEO exiting the business and the remaining seven directors of Adare Group step up and lead the bid. One of the prerequisites for successfully raising the integrated debt and equity package was to prepare a business plan that included a strategy for developing a more integrated business model with a single face to market. This plan was supported with a 180 day action plan that will serve as a footprint for implementing the growth initiatives.
“I am delighted for the team. Between them they have many years of industry experience and this is a great opportunity to unlock the potential that lies within the group”.
Ian Jamieson, Jamieson
“The successful execution of the deal was largely due to the dedication of Robert Whiteside and his team who will hold the majority of the equity in the new vehicle”.
Stuart Coventry, Jamieson