Our Corporate Finance team has advised AIM-listed Grafenia on its acquisition of Image Everything, a sign manufacturer and exhibition contractor. Founded in 1998 and employing 41 staff, Image provides clients with merchandising, retail graphics, site branding, signage, promotional advertising and exhibition solutions.
Its range of products and services includes pop-ups, banners, fleet vehicle wrapping and stadium branding. The company operates from a 60,000 sq ft facility near the Trafford Centre. Clients include independent businesses and SMEs as well as household names such as Manchester City FC, English Rugby and Center Parcs.
Nigel Barratt and Lauren Roberts of HURST advised print and design firm Grafenia, which is based in Trafford Park, Greater Manchester, on the deal. Grafenia said the acquisition adds scale to the business in a converging graphics market. There is limited overlap and the acquisition brings cross-selling opportunities for the enlarged group, as well as adding manufacturing facilities and capability.
The owners of Image – Neil Cousins, John Fitzgerald and David Brunt – are all staying on with the business. Peter Gunning, chief executive of Grafenia, said the trio have built a great business which is client-centred and does whatever it takes, no matter how tricky, to get the job done.
Neil said joining forces with Grafenia provides the catalyst to reach more customers at a faster pace.
Nigel Barratt said: “The products supplied by Image complement the services offered by Grafenia and the acquisition makes excellent strategic sense. “We wish Grafenia and Image well in their new partnership.”
Image turned over £5m in the year to May 31, 2016 and unaudited management accounts for 2016/17 show revenues of £5.53m. Grafenia has agreed to pay up to £3m for the business.
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