GI Solutions seals deal to create £80m business

Leicester-based provider of creative, data, direct mail and transactional document services, GI Solutions Group has bought Kettering-based Eclipse Colour Print, Eclipse 4DM and Direct Link for an undisclosed sum.

Catalyst Corporate Finance advised the shareholders of GI Solutions Group on the deal.

The Eclipse group of companies is a provider of commercial print, print management and direct mail services.

The combined group will generate around £80m of revenue a year. All the companies will continue to trade on their existing sites led by their existing management. The group has also appointed Sotos Constantinides as its new chief finance officer.

“This is a fantastic result for all concerned,” said CEO Patrick Headley, adding “we have admired what Simon and the team have achieved for a long time. We are absolutely delighted we can now all work together with an ability to offer our customers an even wider range of services. The synergies are very strong and the whole team at GI are very excited about the future”.

“I am delighted to be working with GI Solutions Group,” said Simon Moore. “As a business we have come a long way since we started the company. This deal will give both our customers and ourselves many more options moving forward.”

“This ticks a number of boxes for the Group and we are delighted to have Simon joining the board,” added Headley

“We had strong growth aspirations when we completed the MBO last March and expect to be able to announce further exciting developments in the near future”.

The acquisitions were financed by the Midlands team of HSBC Corporate and Tosca Debt Capital. The Birmingham office of Catalyst Corporate Finance acted as lead advisers on the whole finance raising process and acquisition.

Jeremy Harrison, partner at Catalyst Corporate Finance, said: “We are delighted to have delivered another deal for GI following the MBO.

“It is particularly pleasing to have worked with so many local professionals on this deal and to have delivered an acquisition funded by a market leading banking and credit fund package.

“Eclipse is a high quality, complementary business and the enlarged group will be a powerful force in marketing communications.”