Two weeks of detailed scrutiny and intense negotiation culminated in the completion of the sale to us of Clowes Printers (Manchester) on Thursday 23rd September.
What attracted us to Clowes? Aside from the fact that Clowes’s administration presented us with an ideal opportunity to further our growth strategy, there were a number of other factors that made the purchase of the business very attractive. The two businesses were similar in many respects meaning that synergies in terms of products and processes already existed.
We shared a number of customers so the opportunity to consolidate our position in the marketplace presented itself. The skilled staff have earned a reputation for quality, a key tenet of our approach, and the physical location of the firm was important too, based as it is just a few miles down the road from our head office.
The purchase will make an immediate impact on our bottom line but, more importantly, it provides us with a stronger foundation for the future. The greater economies of scale and improved purchasing power that come through sheer size; new staff, their additional skills and contacts, as well as more contracts and business leads will make a significant contribution to our development. The sale also underpins further our relationships with a number of clients for whom we have ensured continuity of supply.
This acquisition brings our staff numbers up to 58 in total. Thanks to the purchase of Clowes, based on current forecasts, our annual turnover will be in the region of £5 million.
Jacky Sidebottom commented “I’m delighted that we have been able to conclude the deal for Clowes so quickly, minimising the disruption to customers and the anxiety for all of the staff concerned. As a family owned business, people have always been important to us and we wanted to ensure that everyone was offered an appropriate role in the new entity. They were and, happily, they have all taken up their new challenges. Our sales ledger is strong and getting stronger as is our position within the industry. We’ve helped to rescue a number of jobs and to salvage a potentially difficult situation for a number of clients. That’s something we can all be proud of.”