North-east based Simpson Group has undergone an MBO led by managing director Dean Williams. The acquisition sees the departure of chairman Mark Simpson, along with his brother and sister as minor shareholders. Current managing director Bill McNally, and finance director John Quinn will stay to lead the new management team through a period of transition. In August the new management team will take over, led by Williams supported by Mark Jerrard as commercial director, David Dowson as production director and Sarah Tishler as training and development director. David Darcy of Vistage International, who has over 20 years’ experience working with the previous and new management teams, will join as non-executive chairman.
£11m turnover Simpson Group - which specialises in PoP print for the retail sector - was formed in 1972 by Bill Simpson and now employs over 100 staff in the North East at its HQ in Washington and at a satellite southern operation in Langley.
Mark Simpson said of the MBO, which sees the end of the family involvement: “We have been working for several years on a succession plan to ensure we continue our growth into the future. I am delighted Dean Williams and the new management team will have the ongoing support of Bill McNally, John Quinn and David Darcy as they take on the reins and deliver an exciting future for Simpson Group.”
Williams 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.”
Williams, who has a 30-year career in the print industry, joined the Simpson Group as a YTS trainee and re-joined as sales director in 2011. Jerrard, Dowson and Tishler have all been with the business for over 10 years.
Legal advice for the MBO was provided by commercial law firm Square One Law and Ward Hadaway, with accountancy firm Tait Walker providing corporate finance support and funding provided by Santander.
Ian Gilthorpe, senior partner at Square One Law, said: “Simpson Print’s new management team has substantial experience and an impressive collective reputation to drive the business forward in new and existing markets.”
McNally, current managing director, said: “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.
“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.
“Our thanks and gratitude go to Mark Simpson and his family for leading the business to this point and for facilitating a smooth handover to the next generation.”
