Listed printing firm buys up sign maker
MANCHESTER-based print and website design firm Grafenia – currently undergoing restructuring as it bids to halt a decline in profits and revenue – has acquired Liverpool company ADD Signs.
Mark Eccleston, the owner and now seller of ADD Signs, joins Grafenia as regional director of the main operating company in the group. He will continue to lead the team at ADD Signs and develop the business.
In the year to December 31, sign maker ADD’s turnover was about £375,000.
Grafenia chief executive Peter Gunning said: “After working on projects with Mark and his team for several years, we are delighted to welcome them to the Grafenia family.
“We have ambitious plans for making signs a bigger part of our offering and are excited that Mark shares our vision.”
Eccleston said: “We’ve grown our business steadily over the past few years and were looking for ways to take it to the next level. Making cool signs for Nettl, I was intrigued by their business model. When the guys shared their plans with me, it just felt like it made sense and I wanted to play a part in making it happen.”
In November, listed Grafenia reported dipped 2.6% to £5.14m for the six months to September 30 (HY 2015: £5.28m) and there was a 22% fall in EBITDA to £460,000 (HY 2015: £590,000).
The company suffered an operating loss of £420,000 (HY 2015: operating loss £180,000). Restructuring costs of £40,000 (HY 2015: £80,000) were incurred in the period.
