Livingstone Wrap Up Another Print Deal
November 2006
The only UK digital imaging company providing a comprehensive range of digital imaging products and services from small to grand format – from a business card to a building wrap - has been sold by its Irish-based owners to its management team and a new backer, also from Ireland.With a 3,000 strong customer base comprising national advertising agencies, retail chains, and blue chip corporate clients as well as SME’s contributing to £15million of sales annually, c3imaging proved an attractive proposition for buyers seeking a company in the most exciting and fastest growing area of the print industry.
C3imaging already operates from ten locations across Britain and Ireland but it was its strong potential for significant expansion that led Dublin-based Kelvinside, who recognised that such a move would require the backing of a major organisation committed to supporting the team, to put this highly attractive business on the market.
A marketing exercise undertaken by Livingstone brought a number of offers from U.K. private equity houses and integrated finance providers but late into the negotiation process, O’Flaherty Holdings, also located in Dublin, made a bid that offered the best fit of all the potential acquirers.
The already diversified O’Flaherty Holdings, with interests in luxury car sales, manufacture and distribution of aerial platforms and property development contributing to an annual turnover of €1billion was perceived by Livingstone - and its Irish Global M&A partner CFM - to be able to offer the support and resources needed to take c3imaging forward.
Deal leader Graham Carberry comments: “Kelvinside has been an extremely successful operation in the ten years it has been in existence. It acquired c3imaging – operating from one Liverpool site - in 1998 when its founder Brian Molloy recognised the growth potential of digital print.
“Now it has ten operational sites with the opportunity to open in Sheffield, Leeds, Birmingham and Edinburgh in a very short space of time. Brian and his team have developed a business that has become recognised as the leader in its field. With the UK digital imaging market forecast to double by 2010 it presented a most attractive acquisition opportunity.
“I believe this represents a great result for all parties: a good price for our clients and shareholders and support for the management of an excellent backer who will help them to take advantage of the significant opportunities available to them.”
Phil McCreanor who heads up the print and packaging team at Livingstone, adds: “This is another success for our dedicated print and packaging team - and for the Global M&A partnership.”
Jeremy Furniss, Partner
Tel: 020 7484 4703
Email: jfurniss@livingstonepartners.co.uk
Graham Carberry, Deal Leader
Tle: 020 7484 4728
Email: gcarberry@livingstonepartners.co.uk
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