MBO at Lincoln printing firm

Three directors have led a management buy-out at Lincoln-based printers, Elpeeko, which was established in 1905.

The acquisition, led by Clare Griffiths, Gary Spittlehouse and Dave Swaine, has brought about an exit for owner Steve Turner.

Griffiths, art director, said: “The senior team and everyone at Elpeeko is thrilled at this new stage of transition for the company. We are looking forward to future growth and to working with our existing and new clients to develop the company further and focus on our core strengths as a print and design business delivering tailored solutions.”

Helen Sallis and Rod Whitehead of Independent Banking Professionals, along with Richard Minshall of Minshall Accountants supported the structuring and finance of the transaction.

Sallis said: “Independent Banking Professionals worked closely with the new owners to secure the buyout, allowing the company to move forward on a positive footing for the future. It was great to be working with such an enthusiastic and positive team and we are looking forward to continuing to contribute to Elpeeko’s future success”

Ian Green of HSBC Bank supported the buyout through a funding package.