Home| Management buyout success for ICL Imaging |
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30th September 2005 Birmingham-based ICL Imaging Ltd, which specialises in exhibition displays and printing solutions, has been bought out by its management team. Year-long negotiations have finally ended with the successful completion of a management buyout of the company which started life in 1981. The buyout, completed for an undisclosed sum, was driven by Birmingham-based professionals, including the management company of Aston Science Park, Birmingham Technology Ltd which originated the deal through its Seminars for Success programme. Accountancy and business advice was provided by Parker Business Development with legal advice from The Wilkes Partnership and funding from The Royal Bank of Scotland. Aston Science Park’s Matthew Hidderley said: “ICL is a successful and well run business, providing a reliable service but it was clear that the management team were ready to pursue other interests, looking to inject new energy and expand. We have been pleased to support and mentor ICL Imaging during this process, providing advice and access to relevant contacts to make the deal go ahead. Darrin Hatfield, Sales and Marketing Director at ICL Imaging said, “It was a fantastic effort, with the vendors, advisors and management all working together to reach a satisfactory outcome. We have a loyal customer base which we want to build on embracing new technologies and processes in the industry.”
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