Thu, 17 Jan 2013 | MBO/MBI
Book and digital printer Montgomery Litho (Glasgow) has been saved from administration after being purchased in a management buyout deal.
Newly created company McAllister Litho Glasgow bought the trade and assets of Montgomery after an agreement with the administrators at KPMG. The deal has secured 76 jobs and also the trading businesses MLG Glasgow, MLG Marketing Solutions and The Print People.
Janette McAllister, former production director at Montgomery Litho, is to take up the managing director role at the new business and is supporting the deal from her own funds. The business is to remain at the Montgomery premises in Glasgow.
Montgomery Litho entered administration on 11 January after failing to withstand mounting trading losses and cash flow pressures. A total of 148 staff lost their jobs when the administrators were drafted in, and its site in Haddington was shut down.
Montgomery had suffered a £1.2 million pre-tax loss in 2011. While its revenues fell from £24.2 million to £19.9 million after losing a large contract in the insurance industry.
Blair Nimmo of KPMG commented on the deal: “The sale of the business represents the best possible outcome for the Glasgow operation which will now continue to trade.
“We are particularly pleased to have secured the sale after less than a week as transactions like these are difficult to achieve in the current economic climate.”
An established, award-winning care home with nursing, that is located in a popular East Midlands town and has come to market for the first time so that our client can retire.
For sale a lucrative portfolio of residential care homes conveniently clustered in the Northwest of England, offering residential and dementia care.
A profitable care home with nursing located in an East Midlands town. Well-presented and extended accommodation with 57% of the ground floor bedrooms being ensuite.
03
|
May
|
Three Aberdeen legal firms merge to form all-service provider | MERGER
Three prominent Aberdeen legal businesses have merged to for...
03
|
May
|
BGF-backed asbestos services firm makes third acquisition | BUSINESS SALE
Environmental Essentials, a specialist asbestos services fir...
03
|
May
|
Logistics firm acquires pair of Derbyshire businesses | BUSINESS SALE
A logistics firm headquartered in Preston has acquired a pai...
10
|
Mar
|
£32m turnover Angus Steakhouse appeals to landlords with administration looming | ADMINISTRATION
London’s popular Angus Steakhouse chain has appealed t...
21
|
Jan
|
ProCook considering sale as it undertakes strategic review | BUSINESS NEWS
Kitchenware retailer ProCook is to undertake a strategic rev...
09
|
Dec
|
Administrators seek buyer for garden machinery firm | ADMINISTRATION
Shropshire-based garden machinery company Oakley’s has...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.