Glenfield exhibition stand maker sold in MBO

Glenfield-based Premier Display, which makes exhibition stands, has been sold in a management buy-out (MBO).

The MBO was led by joint owner Jason Colman, who bought the business for an undisclosed sum with financial backing from HSBC, led by Elliott Watts, legal advice from Spearing Waite and financial advice from Nic Hanlon of Hanlon Corporate Advisory.

The firm was set up 30 years ago and has 20 permanent staff. Coleman first joined the company seven years ago, as part of a previous MBO.

He is now managing director, with overall control of the business.

Colman said: “Everyone advising on the transaction was excellent and the friendly advice and professional approach has been very good.”

The team at Spearing Waite was led by partner and head of corporate group Martin Smith and included corporate associate, Hannah Tessyman and partner and head of employment, Andrew Rowell.

Smith said: “We were delighted to have advised Jason on his MBO and look forward to seeing the continued success of the business.”

Gavin White at Fraser Brown acted for the outgoing shareholder.