MBO at Latimer Trend
Thursday, August 26, 2004
A four-strong MBO team has bought Plymouth journal printer Latimer Trend & Co from its retiring chairman for an undisclosed sum.
The deal was led by current managing director Bob Mills, who has worked at the scientific and medical journal specialist for 20 years.
Mills said that the 44-staff company had gone through a major restructuring last year, including pre-press investment in Heidelberg's Topsetter CTP and Dalim soft proofing, which provided the platform for the MBO.
He said that he hoped for "steady, sensible growth" at the firm, with a focus on "customer service and making sure that the company really competes in a fiercely competitive marketplace."
"We're really very proud of what we do," he added.
Negotiations for the deal with previous owner and chairman John Turner had begun in February.
Production director Ian Gelsthorpe, financial director Ian Crocker and Roger Harris, who becomes chairman and non-executive director, made up the MBO team.
Story by Josh Brooks