Investee Company – TeCmail Group (UK)
Investee Company Business Type – Provides integrated mailing services
Type of Financing – Expansion
Equity Providers – Barclays Private Equity
Equity Leader (Individual) – Steven Silvester
Debt Providers – Barclays Leveraged Finance
Debt Type – N/A
Debt Leader (Individual) – Yann Souillard and Davinder Sahota
Equity Amount – Undisclosed
Total Deal Value – Undisclosed
Other Advisors – N/A
Comments – TeCmail Group, backed by Barclays Private Equity and Barclays Leveraged Finance, has acquired Inchbrook Holdings Ltd for an undisclosed sum. Inchbrook, a specialist printing and mailing company will join other subsidiary companies; Alpha Mail, Burnham International, CFM Group, E-FM and Global Solution Management.
The transaction is a continuation of TeCmail’s buy-and-build strategy that has been pursued since its MBI by Mike Cartwright and Chris Thomas, backed by Barclays Private Equity, in 1999. The company, based in London, supplies specialist print, mailing and fulfilment services. It is anticipated that the group will produce sales figures in excess of £40 million for the next 12months and mail 200 million units in the process.
Inchbrook’s core business comprises the provision of printing and mailing services for the security, financial and corporate markets. It also offers call centre and fulfillment services and has a wide variety of blue-chip customers including major corporate registrars, utilities and other major plc’s. As part of the deal, Brian Dickerson as MD of Inchbrook will become a TeCmail director and shareholder. John Willoughby and Malcolm Webb, who together with Brian successfully completed an MBO of Inchbrook in 1996, will retire.
Commenting on the deal, Chris Thomas, MD of TeCmail said: “We are looking forward to the opportunities the deal will generate. Inchbrook’s customer driven strategy and its wide range of specialist services are particularly attractive to TeCmail”.
Brian Dickerson, MD of Inchbrook Holdings, added: “There are many synergies between ourselves and TeCmail and the prospects for increasing the business in the future have been strengthened as a result of the deal. I look forward to capitalising on these and working with Mike and Chris and the other members of the TeCmail team”.