Product category:
Printing Industry Finance
News Release from: Livingstone Guarantee
Edited by the Printingtalk Editorial
Team on 21 March 2007
Finance Company Helps Kall Kwik,
Prontaprint Sale
Less than a year after London corporate finance company Livingstone Guarantee arranged a deal that allowed the Adare management team to buy their business, the firm has teamed up to assist them again.
Less than a year after London corporate finance company Livingstone Guarantee arranged a deal that allowed the Adare management team to buy their business from Irish investors Allen McGuire and Partners for GBP120, the firm has teamed up with chief executive Robert Whiteside and his team to assist them again Following the successful re-launch of Adare, as a single-branded provider of marketing and corporate communications services, two well known businesses were deemed to be non-core - On Demand Communications, operators of the Kall Kwik and Prontaprint design and print centre franchises and C J Fallons, the Irish educational publisher
This article was originally published on Printingtalk on 26 Feb 2003 at 8.00am (UK)
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Having been impressed with the Livingstone performance throughout the management buy-out last year, Richard Waterside and Clinton Everard the finance director were keen to retain Partner Patrick Groarke and his team to help them restructure the business they had bought, said Livingstone Guarantee.
Livingstone Guarantee said it conducted what it described as a tightly controlled process to minimise disruption to both the businesses and the wider Adare group and received a number of offers from private equity houses for either, or both of the companies.
The most attractive came from Irish investor Boundary Capital which agreed to acquire both businesses for GBP43million.
Patrick Groarke said: "This provided a clean solution for the vendors and an attractive value for these assets.
The businesses have found a home that will enable them to prosper as independent brands in the future.".
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