The Group, comprised of traditional print manufacture, management services provider and a number of subsidiaries which were focussed on digital marketing and data analytics.
The print manufacture business struggled to adapt to the market changes brought about by the growth of internet and mobile marketing thus lessening demand for traditional print services. This cumulated in a material cash shortfall and the withdrawal of support from the Group’s lenders.
BDO’s Special Situations M&A team was mandated at a critical time to conduct an accelerated sale process in order to best preserve value in the Group.
BDO ran a highly competitive sales process which delivered significant competitive tension. The sales process cumulated in a transaction to a major printing consolidator, Paragon Europe, who purchasing the trade and assets of the technology enabled businesses and certain other assets of the group via a number of pre-packaged administration sales.
The transaction preserves a significant number of highly skilled jobs and provides a lifeline to these UK based media technology businesses. As a result, the respective business can continue their growth story under new ownership.