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| Adare Group buyout |
| Written by Business Weekly | |
| Wednesday, 05 April 2006 | |
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Adare Group, a leading UK print management, mailing and packaging solutions company has been bought by managers in a deal backed by Bank of Scotland Corporate.
Adare Group, a leading UK print management, mailing and packaging solutions company has been bought by managers in a deal backed by Bank of Scotland Corporate. The bank has provided a £119.5 million integrated debt and equity package to support management in a secondary buyout. Adare, which has a subsidiary in Suffolk – Haverhill-based Adare Label Converters – was founded in 1991 and employs 1,200 staff across 17 locations and an annual turnover of around £160 million. The MBO team comprises Robert Whiteside who will become CEO, Julian Coghlan, Barry Crich, Clinton Everard, Peter Livesey, David Mills and Steven Ueckermann. Adare recently announced revenue of £177.8 million and operating profit of £14.7m for the last financial year.
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