£22 million MBO at card manufacturing firm

Thu, 02 Jun 2016 | MBO/MBI

A £22 million management buyout (MBO) has been successfully completed at a Dorset-based manufacturer of ID and bank card printers.

Magicard, which manufactures secure desktop printers for direct-to-card and retransfer processes, has been taken off the hands of listed defence and security company Ultra Electronics. The cards made by Magicard cover a variety of secure ID and banking cards, such as magnetic stripe, proximity and ‘chip and pin’. The company’s printers are also used by the NHS for staff ID cards.

Magicard chief executive Andy Matko led the MBO, with significant backing from the finance firm LDC. As a result of the initial £22 million deal, senior managers have taken a minority stake in the company, while LDC will take a majority stake. As part of the terms, payments of up to £3 million could be made to former owners if the company grows significantly over the next couple of years.

After completing the MBO, Mr Matko said: "This is exciting news for Magicard and our global network of loyal partners. This deal, along with the recent development of our Helix retransfer printer, gives the management team the opportunity to drive the business forward as owners and unlock the potential of the business, developing new products and targeting new geographies.

"LDC’s investment adds the capital we need to accelerate our expansion, as well as a strategic partner who understands and supports our ambitions for the future."

For more information on the subject of MBOs and other business-buying strategies, see the Business Sale Report resource on what to look out for when buying a business.


Share this article



Latest Businesses for Sale

Face-to-Face Fundraising Agency
London, South East, UK

A leading face to face fundraising agency providing high quality private site campaigns. Long established company operating over 10 years. Operates from leasehold premises in London. Offers invited.

Asking Price: Offers Invited
Turnover: £2,600,000

LEASEHOLD


Unique Multi Faceted Business
West Sussex, UK Wide

Multi-faceted business opportunity developed by our clients in 2014 and now offered for sale due to the directors other business ventures. Owners have firmly planted the venue for live music particularly live jazz, blues, funk and soul. Any new buyer...

Asking Price: £299,950
Turnover: £768,916

LEASEHOLD


Pet Accessory & Health Food Retailer
Colne, Lancashire, UK Wide

Acorn's Healthy Option Pet Food Store. The shop is extremely well established and very well presented with a fantastic reputation; due to the good service and quality products the shop provides. Business has a lot of repeat customers, as well as the...

Asking Price: £249,999
Turnover: £606,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
18
 
Dec
 

High street clothing chain enters administration | ADMINISTRATION

A prominent high street clothing chain has collapsed into ad...

 
15
 
Dec
 

Two pub companies enter administration | ADMINISTRATION

Mitchell’s of Lancaster (Brewers) Limited and York Bre...

 
13
 
Dec
 

Harvard Technology Limited enters administration | ADMINISTRATION

A lighting company based in Normanton has been forced to eng...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
24
 
Nov
 

Estate agency completes acquisition | BUSINESS SALE

Linley & Simpson, the estate agency funded by private equity...

 
05
 
Aug
 

Tech-enabled lockers firm Bybox undertakes an MBO | MBO/MBI

ByBox, the Oxfordshire business behind a network of unmanned...

 
23
 
May
 

Ministry of Cake acquired in MBO | MBO/MBI

A four-strong senior management team has completed a buyout ...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources