Stationery firm Helix saved in French buy-out
BLACK COUNTRY-based mathematical equipment and stationery group Helix has been saved from closure after administrators were able to sell the business as a going concern.
The Lye firm, best known for making plastic rulers and protractors, has been snapped up by international stationery giant Maped SA for an undisclosed sum in a deal arranged by joint administrators David Bennett and Paul Addison of Grant Thornton.
The deal, which covers the sale of both Helix Ltd and Helix Group, is seen a good fit with French firm Maped, which was founded in 1947 as a manufacturer of brass compasses and has grown to become a world leader in the design and manufacture of school and office stationery supplies, with businesses in Europe, Asia, Australia, North and South America.
Mr Addison said: “We are very pleased to have been able to secure the future of the Helix business. Helix and Oxford are well known brands, which attracted substantial interest from many UK and overseas companies.
“As a competitor to Helix, Maped’s strategic purchase of the business makes a great deal of sense, now allowing them to significantly invest in the brands and grow the business both in the UK domestic market and internationally. We are also delighted that the employees based at Helix’s head office in Lye will transfer to the company’s new owners.”
Jacques Lacroix, president of Maped, said: “There is a remarkable synergy between both companies regarding product portfolio and geographic penetration. I am pleased that Helix will be able to preserve its operational autonomy, while benefiting from the Maped Group’s strong manufacturing and commercial support.”
Helix was established in 1887 and has evolved from a traditional British manufacturer of scholastic and technical drafting instruments into a global business serving the innovative education, home and office and craft products sectors.
