Thu, 10 Mar 2011 | MBO/MBI
A management buy-out deal has recently taken place at Cavalier Mailing Services after eight years of preparation.
The management team has purchased the Norwich-based mailing house, with 23 staff, for an undisclosed sum. Managing director Paul Middleditch and finance director Nigel Greengrass funded the transaction through personal investments they had made.
Established in 1986 and formerly part of Blakes Holiday Group, Cavalier provides a comprehensive range of direct mail services including mailshots, polywrapping of subscription magazines and the sourcing of print and discounted postal services in the UK and abroad.
Cavalier’s customers have doubled to 185 companies over the past five years, which include membership organisations like the Federation of Small Businesses and subscription magazine publishers.
Its revenues have also increased by about 25 per cent over the past five years to £1.2 million, due in part to online marketing efforts.
Commercial director Alastair Kerridge commented on the deal, “It was a question of making it viable for both parties to progress with the sale. The sale almost came to completion two years ago but in terms of finances it is now right for both parties.”
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