Another deal announcement. We've recently completed a management buyout at First Copy Corporation which is one of the top Xerox franchises in the UK. It operates in the East Anglia region selling the whole range of Xerox equipment from colour photocopiers for the office to large scale digital printing equipment for the printing industry – some machines retail for over £350,000 each and are leading a massive change in the way printing services are delivered. It is a fast growing business driven by the increasing trend to colour printing.
The was an interesting deal as all of the employees of the business have become shareholders. Dave Honeyben the MD will remain in post with a significant minority holding, but all of the employees can now benefit directly from the success the company is currently enjoying. The buyout was funded by the Coop Bank. This was their first deal locally since opening a corporate office in Cambridge. In these difficult times it's good to have a new bank in town - that is still lending. Adam Bradley and Sian Scanlon at Taylor Vinters did the legal work for this one.
In the photo are Adam Bradley, Sian Scanlon, Tim Jones (Coop Bank), myself, Dave Honeyben.