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.
Offers a variety of services including domestic assistance, medication administration, companionship and palliative care, as part of a 24/7 service. Care Quality Commission with a rating of ‘Good’ in all domains. Contractually provides its services t...
LEASEHOLD
Currently operates from a number of restaurants, all of which are situated in prominent trading locations and benefit from high levels of footfall. Long-standing brand with a multitude of excellent reviews online. All dishes are prepared in store by...
FREEHOLD
Specialises in commercial landscaping, maintenance, restoration and ecology services. Has won multiple awards throughout its time in operation. Embraces works of all sizes and complexities, undertaking a diverse range of projects and working to ensur...
LEASEHOLD
09
|
Dec
|
Scunthorpe construction group call in administrators | ADMINISTRATION
Scunthorpe-based Clugston Group and Clugston Construction ha...
06
|
Dec
|
KPMG agrees to sell pensions arm | DIVISION SALE
Professional services network KPMG has announced that it has...
05
|
Dec
|
What a Labour government would mean for UK entrepreneurs | BUSINESS NEWS
Private business mergers and acquisitions expert Sue Green o...
Sign up to receive our acquisition alert emails to get your FREE guide
16
|
Sep
|
Cheshire-based SRL Traffic Systems completes MBO | MBO/MBI
SRL Traffic Systems, a manufacturer and supplier of portable...
12
|
Sep
|
Lucid Group completes acquisition of North West-based healthcare consultancy | BUSINESS SALE
Healthcare communication specialists, Lucid Group, has succe...
24
|
Nov
|
Estate agency completes acquisition | BUSINESS SALE
Linley & Simpson, the estate agency funded by private equity...
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