News: Alexander leaves Garnett to grow Acorn
Group chief executive, Nick Alexander has stepped down from the board at Rotherham print group, Garnett Dickinson after leading a management buyout (MBO) of Garnett subsidiary, Acorn Web Offset.
Based in a £20m state-of-the-art facility in Manvers, Garnett Dickinson prints and mails high quality magazines, catalogues, brochures and direct marketing pieces as well as publishing the Rotherham Advertiser and other associated magazines and local newspapers. Other companies within the group produce digital printing and creative design.
Acorn Web Offset specialises in magazine, brochure and catalogue printing and generates a turnover of approximately £15m a year.
The Garnett Dickinson Group acquired Acorn Web Offset in September 2009, enabling them to establish GD Mailing, providing the mail order, commercial and publishing sectors from a main base next to the Acorn facility near Wakefield. The disposal will allow the business to focus on its core mail order and direct marketing print operations.
The MBO team also included Mark Roberts, general manager at Acorn Web Offset and sales manager Matthew Carry. Alexander will retain his shareholding in Garnett Dickinson. HSBC's Yorkshire Corporate Team provided finance to support the acquisition, including asset finance and term debt.
Nick Alexander, chief executive of Acorn Web Offset, said: "This is a friendly buyout that suits all parties. We don't intend to make major changes to the business because our customers like the service we offer and we do it very well. However, it is a great opportunity to take the business forward and accelerate its growth. HSBC played an important role in the transaction; I have worked with the bank for a number of years and look forward to working with it going forward."
Guy Rothery, corporate banking manager at HSBC, added: "Acorn Web Offset produces a quality product and maintains strong customer relationships in the face of a competitive marketplace. We are confident that Nick, alongside his senior management team, will continue to develop this business under its new ownership."
Advisors on the deal included Chris Sellars of Mackenzie Spencer and Neil Thompson of Hill Dickinson solicitors. Dean Gormley and Matt Ainsworth of Irwin Mitchell provided legal support to HSBC, whilst DLA Piper’s Sheffield office advised the vendor.
Earlier this year, Carl Garnett was appointed managing director of Garnett Dickinson Mailing and Ian Maxted joined the Business Development Team at Garnett Dickinson Print.
Nick is pictured gaining recognition for his 700km bike ride from the Atlantic Ocean to the Mediterranean over the Pyrenees in just over five days in 2011 to raise money for charity.
Garnett Dickinson website
Acorn Web Offset website
Images: BR Chamber
Based in a £20m state-of-the-art facility in Manvers, Garnett Dickinson prints and mails high quality magazines, catalogues, brochures and direct marketing pieces as well as publishing the Rotherham Advertiser and other associated magazines and local newspapers. Other companies within the group produce digital printing and creative design.
Acorn Web Offset specialises in magazine, brochure and catalogue printing and generates a turnover of approximately £15m a year.
The Garnett Dickinson Group acquired Acorn Web Offset in September 2009, enabling them to establish GD Mailing, providing the mail order, commercial and publishing sectors from a main base next to the Acorn facility near Wakefield. The disposal will allow the business to focus on its core mail order and direct marketing print operations.
The MBO team also included Mark Roberts, general manager at Acorn Web Offset and sales manager Matthew Carry. Alexander will retain his shareholding in Garnett Dickinson. HSBC's Yorkshire Corporate Team provided finance to support the acquisition, including asset finance and term debt.
Nick Alexander, chief executive of Acorn Web Offset, said: "This is a friendly buyout that suits all parties. We don't intend to make major changes to the business because our customers like the service we offer and we do it very well. However, it is a great opportunity to take the business forward and accelerate its growth. HSBC played an important role in the transaction; I have worked with the bank for a number of years and look forward to working with it going forward."
Guy Rothery, corporate banking manager at HSBC, added: "Acorn Web Offset produces a quality product and maintains strong customer relationships in the face of a competitive marketplace. We are confident that Nick, alongside his senior management team, will continue to develop this business under its new ownership."
Advisors on the deal included Chris Sellars of Mackenzie Spencer and Neil Thompson of Hill Dickinson solicitors. Dean Gormley and Matt Ainsworth of Irwin Mitchell provided legal support to HSBC, whilst DLA Piper’s Sheffield office advised the vendor.
Earlier this year, Carl Garnett was appointed managing director of Garnett Dickinson Mailing and Ian Maxted joined the Business Development Team at Garnett Dickinson Print.
Nick is pictured gaining recognition for his 700km bike ride from the Atlantic Ocean to the Mediterranean over the Pyrenees in just over five days in 2011 to raise money for charity.
Garnett Dickinson website
Acorn Web Offset website
Images: BR Chamber
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