Managers buy Lancashire software firm

LANCASHIRE software firm Tharstern has been bought by its management.

The business specialises in supplying the printing industry and has 40 staff and revenues of £4m.

The deal, backed by Mobeus Equity Partners, was led by managing director Keith McMurtrie, technical director Antony Lord and sales director Lee Ward who have bought the business from Richard and Jannine Bannister.

Mr McMurtie said: “This is fantastic news for Tharstern, our loyal staff and customers, many of whom have been with the company for many years and who are vital to our continued success going forwards. The deal will provide security and continuity, and ensures that Tharstern retains its brand and identity as a recognised world leader within the printing and allied industries.”

Chris Price, investment director at Mobeus, said: “We are delighted to support an excellent team and to be involved with a business which has a strong reputation, built on its long history and expertise of providing management information software for the UK printing industry.”

Chirstian Mayo, Rick Stark and Cassie Ivel from KPMG’s Corporate Finance team in Leeds and Helen Ridge and Andrew Phillips from from Pinsent Masons in Manchester advised the vendor.