Close Brothers Asset Finance has played a key role in Glasgow-based Bell & Bain’s management buy-out of J Thompson Colour Printers. The resulting combined company will be the largest production unit in their sector.
Bell & Bain - founded in 1831 - is one of the oldest independent book and journal printers and binders in the UK, while J Thomson Colour Printers is one of the market-leading print solutions providers in Scotland.
“We are justifiably proud of our long association with Printing, Packaging and Ancillaries, financially assisting customers through the economic cycles. Our understanding of this industry and its assets allows us the flexibility and speed that is so important in facilitating a successful outcome when assisting our clients with acquisitions and mergers, as well as the many other financial requirements of this core marketplace” said Roger Aust, Managing Director of Close Brothers Asset Finance’s Print division. “Between them Bell & Bain and J Thomson have been trading for an incredible 270 years and are both, in their own rights, highly successful. Because of this, we had no hesitation in providing them with the asset-backed facility they needed to complete the deal.”
Steve Docherty, Managing Director, Bell & Bain: “Each company had something the other needed. The new scale of the combined firms has resulted in the ability to offer a wider range of complementary services to new clients using streamlined production and up-to-date technology.
“Dealing with Nick Aust of Close Brothers Asset Finance has been a refreshing change from the high street lenders – they understand how businesses need to run and have made a personal dream come true. I cannot thank the team at Close Brothers Asset Finance enough and I urge any business to speak with them first. First-class service.”
Nick Aust, Senior Relationship Manager at Close Brothers Asset Finance added: “We are delighted to have worked with two such well-established businesses. Our fast turnaround and the assistance of the whole team helped to secure this deal.
“The amount of effort and coordination to make acquisitions possible shouldn’t be underestimated - it was a privilege to work so closely with Group CEO Steve Docherty and MD Karen Baillie, without whose hard work and vision this deal would not have been possible.”