Granby Marketing Services, a Blackburn, UK-based response and fulfilment company, completed a £3.8m management buyout.
Backers included Enterprise Ventures, which provided £1.35m from its EV Growth fund, and NatWest, which provided £600k term debt, RBS Invoice Finance, which provided a £500k working capital facility, as well as directors which provided the remainder.
Following the deal, Joanne Varey, managing director, will become majority shareholder while Stephen Bentley, who acquired Granby from the Omnicom Corporation thirteen years ago, will become Chairman and remain a minority shareholder. Craig Parsons, IT director at Granby, will also become a minority shareholder in the business.
Granby provides services such as direct marketing, e-commerce fulfilment, and warehousing and distribution to a blue-chip client base which includes Sainsbury’s, CTM, England and Wales Cricket Board, Department for Education and The Information Commissioner’s Office. The company employs over 100 people.