Macro Art is under new ownership following the completion of a management buyout led by James Jennings (managing director), Michael Green (commercial director) and Matthew Guise (sales director).
New investors and non-executive (NED) management include: Mary Broadhead, investment director at YFM Equity Partners; David Sadler as chairman, formerly CEO and major shareholder of Aardvark Group; Nigel Luckett as NED finance; and Chris Gregory, founder of corporate finance advisor Orbis Partners.
Jennings said: “This MBO and planned capital investment will enable our business to capitalise on the positive economic outlook, expand into new areas and increase efficiency. We will invest in new equipment and employ more people to support our client’s ambitious printing demands.”
Macro Art, headquartered near St Neots, Cambridgeshire, reported a £6.7m turnover in the last financial year, and is forecasting an increase of almost 8% in the current financial year. The company has more than doubled its staff to 70 people since it moved to a 3,810m2
purpose-built facility in 2005. It invested in specialist UV and dye-sublimation print technology which has helped it grow into new and more profitable markets including exhibitions and high-end retail.
The business was originally set up by husband and wife team, John and Gretchen Walker in 1992. Over the last few years a new management team has been recruited to grow and develop the business further. John Walker suffered ill health in 2012 and died last year. Gretchen Walker, who had continued to run Macro Art, has now handed over to the management buyout team.