Primary acquires Metamark in £62m MBO

Under its new ownership structure, Metamark will undertake an international expansion strategy, as well as invest in recruitment and its manufacturing facilities. The company will also expand its service offering into new market segments, with a particular focus on the construction sector.

As part of the transaction, former TRM Packaging director Matthew Enright has joined the company as chief financial officer.

The deal is the fifth investment made with capital drawn from Primary's fourth fund, a £225m vehicle that held its final close in July 2014.

Debt
Santander and Yorkshire Bank provided a senior debt package and working capital facilities to support the deal.

Company
Headquartered in Lancaster, Metamark is a manufacturer and distributor of self-adhesive sign vinyl and digital print media. In addition to its headquarters and manufacturing facility in Lancaster, the company has distribution operations in Woking.

Metamark has a headcount of 88 and generated £29m in revenues in the year ending March 2017, according to a statement. One third of the company's revenues is generated from exports to around 40 countries.

People
Primary Capital – Iain Wolstenholme, Alistair Armstrong (partners); Chris Hopwood (investment director).
Metamark – Paul French (CEO); Ian Simister (sales director).

Advisers
Equity – KPMG, Alex Hartley (corporate finance).
Vendor – CLB Coopers (tax).

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