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Business

Management buyout saves specialist print companies

Two print businesses and 22 jobs have been saved thanks to a management buyout led by the corporate finance team at Bishop Fleming

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Charles Davey, a corporate finance director at Bishop Fleming, says the buyout is a “great deal” for Vertical Trading Limited

The Chartered Accountant completed the management buyout of Swindon print firms Vertical Trading and Corinium Continuous from Multisets Limited through a new holding company in the firm of Vertical Trading Limited (VTE).

Multisets Limited entered administration in August of this year, casting doubt over the future of Vertical Trading and Corinium Continuous, which offer fast turnaround bespoke printing services to clients, as well as medium and short run printing, together with ‘one-off’ jobs.

However, the future of both companies, which will be known jointly as VTE, has now been secured.

“Although this has been a tough time for the business, we have protected 22 jobs in the company and have given it the best possible chance to succeed into the future,” enthuses Martin Pulley, chief executive of VTE.

Both businesses have been trading well throughout the period and I have been overwhelmed by the reaction from our suppliers and customers for which I offer our thanks for their support, and give my commitment to continued quality printing based here in Swindon

“Both businesses have been trading well throughout the period and I have been overwhelmed by the reaction from our suppliers and customers for which I offer our thanks for their support, and give my commitment to continued quality printing based here in Swindon.”

Charles Davey, a corporate finance director at Bishop Fleming, adds: “This is a great deal for VTE and it has been a pleasure working with management and the Company in a tough situation. 

“This is our sixth major transaction since July, and highlights the strength and innovation of our growing corporate finance team.”

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