Clairfield advises Macro Art on an MBO

Macro Art is one of the UK’s leading wide-format digital printers with a primary focus on the retail and event and exhibition markets. Founded in 1992, the company produces bespoke graphics on a wide variety of substrates for both indoor and outdoor media and is the UK leader in dye sublimation printing.

The business was originally set up by husband and wife team, John and Gretchen Walker who grew the company significantly over their 22-year ownership, developing a strong management team beneath them. Sadly, co-owner John Walker passed away, leaving Gretchen looking for an exit route.

“I was highly impressed with the way Clairfield handled this difficult deal. From the very beginning I was in no doubt they had the team, expertise, and experience to help us achieve our goal. They were professional, hardworking and communicative throughout the process.” James Jennings, Managing Director & Shareholder

Clairfield was instructed to run an MBO process with the current management team to acquire the business.

Specifically, Clairfield:

• Worked with the shareholders to understand the business and their aims.
• Developed a detailed three-year profit and loss, balance sheet and cash flow forecast.
• Developed an appropriate funding structure and approached relevant banks and alternative investors.
• Led the preparation and review of the financial due diligence on behalf of the shareholders.
• Worked alongside Macro Art’s tax advisor to ensure the transaction was structured and completed in the most tax efficient manner.
• Worked alongside the legal team to negotiate suitable legal agreements.

Funding to support the MBO was provided by YFM Equity Partners. Clairfield also invested in the MBO through the investment vehicle Intrinsic Equity with Chris Gregory taking a board position.