Acorn Web Offset sows seeds for the future following MBO

PRINTING firm Acorn Web Offset has been acquired by its management team for an undisclosed sum.

Chief executive Nick Alexander has led the management buy-out from parent company Garnett Dickinson.

Acorn Web Offset specialises in magazine, brochure and catalogue printing and generates a turnover of around £15m.

It employs around 100 people at its Normanton-based premises, and magazines printed by the company include the football brochures for the London 2012 Olympics.

The MBO team included Acorn Web Offset general manager Mark Roberts and sales manager Matthew Carry. Following the acquisition Nick Alexander will step down from the Garnett Dickinson board but will retain his shareholding in the company.

HSBC’s Yorkshire corporate team provided finance to support the acquisition, including asset finance and term debt led by corporate banking manager Guy Rothery, with support from HSBC corporate analyst Jack Coley.

Sheffield’s advisory community played a key role in the deal. Chris Sellars of Mackenzie Spencer and Neil Thompson of Hill Dickinson solicitors were in on the deal while Dean Gormley and Matt Ainsworth of Irwin Mitchell provided legal support to HSBC. DLA Piper’s Sheffield office advised the vendor.

Rotherham-based Garnett Dickinson acquired Acorn Web Offset in 2009 from the Trader Media Group and the disposal will allow the business to focus on its core mail order and direct marketing print operations.

Mr Alexander said: “This is a friendly buyout that suits all parties. We don’t intend to make major changes to the business because our customers like the service we offer and we do it very well.

“However, it is a great opportunity to take the business forward and accelerate its growth.”