Management Buyout at Harlands Labels

Management Buyout at Harlands Labels

Harlands Labels has announced its management buyout from holding company Grenadier. This development for the Hull based label printer is the culmination of many months preparation and is aimed at giving the business the freedom to develop more rapidly as an independent company within the labels sector.

In a statement, the new management team said: ‘The past three years have seen the restructure of the business into a well equipped specialist within the sector. Harlands has been very selective in the structure of its financing to guarantee that the business has a stable platform with the flexibility to invest and develop in accordance with its overall business plan.’

The MBO was backed by Yorkshire Fund Managers Limited (YFM) and Bridges Community Ventures. YFM is a venture capital company that invests, as a minority shareholder, in owner-managed businesses that have significant growth potential. Bridges Community Ventures was founded by Ronald Cohen, 3i and Tom Singh and backed by a number of bluechip institutions including banks, pension funds, corporates and high network individuals.

Ian Wright, managing director at Harlands, commenting on the management buyout said; 'Our team will remain the same, as will our goals and objectives, and we will continue to be driven by our customer’s need for new and improved products with continued investment in this area. We are all very excited about the new structure and look forward to moving into this new era together.'