Geldards advise on Management Buy-Out of Pensord
22 July 2010Geldards have advised the outgoing management team on the Management Buy-Out of South East Wales based printing firm Pensord Press Limited.
Based in Blackwood in South East Wales, Pensord was set up 41 years ago by the Billboard Company of America and currently has a turnover of £12m, employing 143 staff printing 380 magazine titles including Music Week.
Chief Executive Tony Jones purchased Pensord Press Limited through an MBO in 2003. This latest MBO sees Darren Coxon and Karl Gater take over the business.
Tony Jones said: “When I led my own management buyout in 2003 I felt it was the best route to turning an under-performing company around. I now feel as a team we’ve achieved that objective, the job is done. It’s time for Graham [Lambert] and I to look for new challenges, secure in the knowledge that an MBO is again the best way to continue the legacy at Pensord.”
Geldards’ Corporate Partner Susan Sandford, assisted by David Rothera, provided legal advice to Tony and Graham.
"We are delighted to be involved in this key stage in the business life cycle at Pensord; a strong, well respected company known for the quality of its publications."