UK - Bank of Scotland backs £119.5m acquisition of Adare Group

Bank of Scotland Corporate has provided a £119.5m integrated debt and equity package to support management in a secondary buyout of Adare. Under the structure of the deal, Whiteside and his team will take a majority equity stake, with Bank of Scotland Corporate taking a minority stake.

Adare provides a range of solutions for many blue-chip clients such as HBOS, RBS, HMRC and Waitrose. Founded in 1991, Adare has established a leading position in the print services sector, employing 1,200 staff across 17 locations, including several ‘in client’ sites, and has an annual turnover of around £160m.

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• Topics
• Buyouts
• UK / Ireland