A family owned printing business with an annual turnover of around £11 million has been acquired via a management buyout.
The Simpson Group is based in the town of Washington in the North East of England and specialises in the provision of point of purchase printing services for retail businesses.
Customers of the group, which was founded in 1972 by Bill Simpson, include the high street retailers Next, Matalan and B&M, as well as the betting company BETFRED and the travel firm Tui.
A total of more than 100 people are employed by the Simpson Group, which has a satellite operation in the village of Langley in Berkshire but is primarily based in Washington, County Durham.
Relations of the company’s founder, in their capacity as minority shareholders, and its current managing director and finance director are now in the process of handing over their control of the business to a new management team.
Dean Williams is set to become the Simpson’s Group’s new managing director, having first worked for the business several decades ago and re-joined as sales director in 2011.
Each member of the senior management team involved in the buyout alongside Mr Williams, namely Sarah Tishler, Mark Jerrard and David Dowson, have been with the business in various capacities for more than 10 years.
“Dean, Mark, David and Sarah share our vision and will bring fresh ideas and energy to the future operation of the business which is increasingly becoming more high tech,” said Mr McNally, the outgoing managing director at the Simpson Group.
“We have a fantastic workforce and high-profile clients so the ambition for the business going forward is exciting. I’m delighted to be providing support to the team in the coming months as we make the transition into new management.”
Dean Williams, the incoming managing director of the group, said: “We have been closely involved in drafting the three-year business plan for some time, so we are excited to drive forward our future growth plans in both retail and in new vertical sectors, and are especially looking forward to continued investment in technology to create high value jobs here in the North East.”