Mobeus has exited its investment in the Blaze Signs group via a management buyout backed by Elaghmore
Arrowpoint Advisory has advised the shareholders of leading UK signage business, Blaze Signs Holdings Limited on its management buy-out backed by Elaghmore, a UK-based private equity fund.
Blaze Signs is a UK leader in the design, manufacture, installation and maintenance of exterior signage. The company generates its revenue mainly in the retail and banking sector, achieving c.£25m revenue in 2019, with c.70% derived from sign design, manufacture and installation and c.30% from sign maintenance performed under the Cygnia Maintenance brand.
Based in Broadstairs, Kent, and with a substantial manufacturing service centre in Birmingham, the Company employs more than 250 people across the UK. During the period of Mobeus’ investment, Blaze group has become a leading provider of signage and signage maintenance services to the retail and banking industries in the UK and now offers a genuine UK-wide complete signage solution to its clients. The management team led by Clive Knight, Chris Abbott & Fraser Burns will continue to lead the business following the acquisition.
This transaction marks an exit of Mobeus’ shareholding at a valuation which was arrived at pre-Covid and maintained since that point. Blaze will become part of Elaghmore’s Hexcite Group, which provides communications products and services, display and merchandising equipment to brand owners and retailers. The combination of Blaze with the Hexcite Group will result in an annual turnover of c.£60 million with a customer base of more than 100 retailers and brands across the globe. Despite the challenges posed by Covid-19, Blaze and the Hexcite Group have both continued to trade well through the pandemic, adapting to the rapidly changing needs of their customers, including developing social distancing solutions.
Clive Knight, Managing Director of Blaze Signs Limited, commented: “A massive thank you to the team at Arrowpoint Advisory for professionally guiding us through the process every step of the way. They were very knowledgeable and a great support to us. We’re very much looking forward to the next stage for Blaze and the Hexcite Group.”
Eric Tung, Partner at Mobeus, commented: “Selling a business in the middle of a pandemic presents unique challenges not experienced before. Arrowpoint Advisory guided the shareholders through these challenges to a successful completion with skills, perseverance and good humour.”
Tom Smith, Director at Arrowpoint Advisory, commented: “We are delighted to have been able to help the Blaze team secure a transaction which provides a strong exit for Mobeus and provides management with the opportunity to maximise the Blaze’s potential as part of the wider Hexcite Group. We look forward to seeing the Group grow over the next few years.”