Vink UK buys Innotech
Tuesday, June 6, 2023
Plastics and media group Vink UK has purchased Leicester-based supplier Innotech.
Vink UK’s acquisition of Innotech means it now trades under 14 brands across the UK; its parent company Vink Holdings operates in 21 European countries and across the world.
The sale, completed on 17 May, was advised by BDO, which also provided due diligence services to the sellers.
Derek Shedden, Innotech's MD, said the firm had been preparing to put itself to market since 2017.
He told Printweek: "In its 15 years of trading, Innotech has consistently grown above industry average, with strong financial performance. Unsurprisingly the sale attracted attracted a lot of interest from investors internationally, particularly based on recent performance.
"The purpose of the sale was to provide Innotech with a platform to achieve its long term ambitious growth plans and global expansion."
Vink UK’s purchase has made it the sole owner of Innotech, with 100% of its shares. Innotech’s previous owner-directors, the Walker family, have stepped down from directorship with the sale.
All staff at Innotech have stayed on with the sale, with the management team remaining in place.
Phil Walker, Innotech's founder, said that the sale was a “superb outcome for the shareholders and the business.”
Vink UK MD Andy Wighton has taken the reins at Innotech, alongside Vink CFO Maud Trevallion.
Innotech, founded in 2007, supplies wide-format materials and signage kit from its UK and Paris headquarters and warehouses in Italy, the Netherlands, and the US.
Duncan Lamb, Partner at BDO, said: “We are delighted to support the Walker family and management team on this deal.
“The transaction creates an exciting partnership by combining Innotech's fantastic reputation as a wide- and grand-format print media and display hardware supplier with Vink Group's international presence and experience in the distribution sector. We look forward to watching the new partnership deliver its growth plans."
Innotech expects to turn over £30m in 2023.