Nottingham print firm changes hands in MBO
Nottingham-based Eight Days A Week Print Solution (EDWPS) has changed hands in a management buyout.
Managing director, Lance Hill, led the transaction with the team also including Karen Herbert and Jake Beardsley. Former owner and chairman, David Beardsley, who had taken a back seat since Hill joined in September 2019, has now retired.
EDWPS specialises in direct and essential mail, digital print, web to print and hybrid mail for a range of sectors including healthcare & pharmaceutical, retail, education, financial services and travel & leisure.
The £5m turnover business employs 20 staff at its Nottingham facility and says it has experienced a good period of growth in the last 12 months, despite the coronavirus pandemic.
Hill said: “We are very excited about the future, we’ve managed to ride through a tough 12 months, partly due to our significant footprint in the healthcare & pharmaceutical sector which has been very stable, and we have also seen some growth.
“Many of our customers understandably pressed pause in the eye of the storm, but we are now seeing them come back with positive plans for the rest of this year, and into the next.
“This business is fundamentally solid financially, which is a compliment to David’s hard work over the years which has created a great foundation for the next phase of growth.”
EDWPS have also taken advantage of the government Kickstart scheme to employ two production operatives via the IPIA who set up a gateway for smaller businesses to access the scheme.
The firm is also recruiting for another account manager to join team client services team due to the recent growth and new client wins.
Financial advice and support was provided by Pippa Hawkes of BSN Associates and legal representation for the MBO team through Graham Spalding of Lodders Solicitors. Matthew Bradley of Bradley & Jeffries were the legal support on behalf of David Beardsley.