Law Firm Supports Bank In Latest Deal
By David Shirt
The Sheffield office of law firm Irwin Mitchell has advised on a deal which has seen Yorkshire-based printer Acorn Web Offset being acquired by its management team.
Acorn specialises in magazine, brochure and catalogue printing and generates a turnover of approximately £15 million a year. It employs around 100 people at its Normanton-based premises.
The deal, which was backed by HSBC’s Yorkshire Corporate team, sees Chief Executive Nick Alexander acquire the business from Rotherham-based parent company Garnett Dickinson.
Dean Gormley and Matt Ainsworth from Irwin Mitchell advised HSBC. Banking Partner, Dean Gormley, said: “We at Irwin Mitchell are delighted to have assisted the bank in supporting the next phase of development of this strong and growing Yorkshire business and wish Nick and his team every success in the future.”
Guy Rothery, HSBC Corporate Banking Manager, added: “Acorn Web Offset produces a quality product and maintains strong customer relationships in the face of a competitive marketplace. We are confident that Nick, alongside his senior management team, will continue to develop this business under its new ownership.”
Rotherham-based Garnett Dickinson acquired Acorn Web in 2009 from the Trader Media Group and the disposal will allow the business to focus on its core mail order and direct marketing print operations.
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