Independent media agency completes a management buyout (MBO) deal

Wed, 22 Aug 2018 | MBO/MBI

The management team has bought out The Specialist Works from founder Jim Lewcock in a deal led by chief executive Martin Woolley and chief operating officer Parry Jones. Under the new ownership, staff are being offered a £2.5 million loyalty bonus.

Both Woolley and Jones were promoted to their current positions 18 months ago and are now majority shareholders.

Since its establishment in 2003, The Specialist Works has shown growth every year with the current forecast for this year at £165 million.

Woolley said: “I’ve worked here for over 11 years, becoming managing director around five years ago, and worked really closely with Jim in building the business up.

“Our whole heritage and roots were in print media and print management. As the business became more complex, it started to suit me a little bit more than Jim, who is a real start-up guy – start-up projects are what he is going on to do.

“Somewhere in between five years and 18 months ago there was a plan for me to take over from Jim and we started the process at the back end of last year.”

The MBO required taking on debt from Santander to complete the deal. Highstead Partners provided corporate finance advice and legal advice was obtained from PDT Partners. Tax advice was provided by Wilkins Kennedy.

Describing the humble beginnings of the company, Lewcock said: “From a single desk on Brick Lane to over 200 desks from Beijing to LA, it’s been an epic journey.

“Many of us have grown up together at The Specialist Works. I’ll miss the folks dearly and look forward to watching the continued wondrous growth.”

The Specialist Works has around 220 employees and operates in more than 40 countries.

For more news about management buyouts (MBO), click here. For all our business listings, click here.


Share this article



Latest Businesses for Sale

Design, Print, Sign & Installation Company
UK Wide

Latest print technology to ensure colour accuracy and quality. Client base of various sectors and industries such as construction, finance, commercial and retail. High client retention rate of 90%, with client relationships dating back to inception....

Asking Price: Offers Invited
Turnover: £508,000

LEASEHOLD


Print Finishing Business
North West, UK

This well established business offers a comprehensive range of print finishing services and pride themselves on the professional and reliable manner in which they work. The business operates 24 hours a day from modern premises within minutes from the...

Asking Price: Offers Invited
Turnover: £800,000

LEASEHOLD


Printers of Business Forms & Commercial
Bedfordshire, UK Wide

Printers of Business Forms and Commercial, plus Digital Colour Work in the Home Counties. Dynamically managed and driven company, which presents an exciting proposition for a new owner, as it has never been brought to the market for sale before. Offe...

Asking Price: £465,000
Turnover: £650,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
27
 
Mar
 

Addison Lee acquired by consortium of investors | BUSINESS SALE

Addison Lee Group, London’s biggest private care hire ...

 
26
 
Mar
 

Leicestershire building products firm enters administration | ADMINISTRATION

Leicestershire-based System Building Products Limited has en...

 
25
 
Mar
 

Kaupthing plans sale of Oasis and Warehouse | BUSINESS SALE

Icelandic-owned UK women’s fashion retailers Oasis and...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
20
 
Sep
 

Leading accountancy firms set to merge | MERGER

Wilkins Kennedy, a leading accountancy firm, will merge with...

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