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.
A very reputable, award winning, day spa offering a selection of rejuvenating treatments is available in the bustling city of Manchester. Offers invited.
LEASEHOLD
This is a longstanding automotive repair business in Gloucestershire, now available for an interested buyer to purchase. Offers invited.
FREEHOLD
A remarkable opportunity has emerged to acquire an established precision engineering business which has cemented solid foundations since it began trading in 1998. Offers invited.
LEASEHOLD
|
21
|
|
Apr
|
Cambridge artificial intelligence / machine learning company bought by customer | BUSINESS SALE
Early stage advanced data analysis company Rinocloud has bee...
|
19
|
|
Apr
|
Accountancy firm to expand in Scotland | BUSINESS SALE
A UK-based accountancy firm with offices peppered across the...
|
18
|
|
Apr
|
Recruitment firm acquires counterpart | BUSINESS SALE
Swindon-headquartered recruitment company Outsource UK has s...
Sign up to receive our acquisition alert emails to get your FREE guide
|
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 ...
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