DEAL ANNOUNCEMENT: HURST Advises as Foresight Group Backs Company Cards Deal

Posted: Oct 26, 2018
Expert:
Ryan Niblock

HURST Corporate Finance has advised on the buy-in management buyout of specialist printed plastic card manufacturing business Company Cards.

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The BIMBO has been supported by a £1.9m investment by Foresight Group.

Company Cards, which is based in St Helens, is a focused digital printing business specialising in printed plastic card manufacture.

Its key products include identity, radio-frequency identification, membership, gift and loyalty cards. 

Founded in 1996 by husband and wife team Tim and Christina Scott, the company has established itself as one of the UK’s leading small-batch card manufacturers through its responsiveness and service levels, which enables it to fulfil orders of 250-25,000 units to short turnaround times.

The company’s main customers are print brokers and print management companies ultimately supplying thousands of SMEs throughout the UK.

It also offers print finishing services through its subsidiary, The Finishing Touch, and a direct-to-consumer offering through its online portal The Plastic Card Factory.

Tim and Christina will remain involved with the business post-investment, along with long-standing operations manager Steve Abbott and commercial manager Hannah Johnson, who becomes a director of the company, which has 36 staff.

As part of the investment, Foresight has introduced incoming chief executive Andy Matko, the former managing director of Magicard, a desktop card printer manufacturer, where he oversaw significant growth.

Also joining the business is Nicola Beamish as finance director and Chris Clegg as chairman. Nicola has extensive experience working with SMEs, large corporates and private equity-backed businesses while Chris is a former partner at Endless.

Nigel Barratt and Ryan Niblock of HURST Corporate Finance and Liz Gallagher of HURST’s tax team advised Company Cards on the transaction.. 

Ryan Niblock

Ryan Niblock - Corporate Finance Manager

Ryan said: “Company Cards is a great business and I am sure Foresight will act as an excellent partner for its next phase of growth and development.

“We wish the best to all parties for what I am confident is going to be a very fruitful future.”

Foresight investment manager Rob Jones said: “Company Cards is a successful family business which has posted double-digit revenue growth in each of the last four years.

“Its established market position and recent investment in state-of-the-art equipment leave it well-placed to take advantage of numerous future development opportunities whilst its web-to-print capability opens up an attractive segment of the market.

“We look forward to working with the new and existing management team.”

Tim Scott said: “Company Cards has been our family business for over 20 years, the amount it has grown since inception is incredible.

“With Foresight’s investment and support, the doors are open for the company to continue its success as we take a step back over time.

“Foresight has a strong reputation in the region and I look forward to working with the team.”

The investment into Company Cards is split equally between Foresight’s regional funds – Foresight Regional Investment LP Fund and Foresight Nottingham Fund.

If you would like more information on the different exit options available, please feel free to contact our Corporate Finance team by clicking here or by calling 0161 832 6633