Bubbly flows as management buy out sign franchise
Signs Express, the country's largest sign franchise has had a management buy-out (MBO). A team of local advisers from Price Bailey, Leathes Prior, and HSBC has worked together to help bring about the sale at signs and graphics franchise Signs Express, based in Norwich
Monday, 18 Nov 2013 14:37 GMT
Celebrating the buy-out: Peter Sayles, operations director (Signs Express), Jonathan Bean finance director (Signs Express), Paul Warman (Leathes Prior), Craig Brown managing director (Signs Express), Stephen Reed (Price Bailey), Tony Marsh sales director (Signs Express) and Martin Simons (HSBC)
The firm was established in 1989 and is now the UK and Ireland’s largest sign franchise, with 70 franchises across the country. The company was founded by David Corbett and Frank Eliel with the specific aim of offering a professional one-stop-shop for business signs and graphics.
Following a successful three year pilot from their custom sign production centre in Norwich, the company began franchising in 1992 and now has a large support team in the city offering advice and guidance to the nationwide network of franchisees.
Craig Brown, managing director, joined the company at its inception, and, along with operations director Peter Sayles and sales director Tony Marsh, was already a shareholder following a 2007 partial MBO.
Following the conclusion of the full MBO, Jonathan Bean has been announced as a fourth equity shareholder, joining the management team and being promoted to finance director. The deal sees the buy-back of the remaining shares from founding shareholders David Corbett and Frank Eliel.
With a large ‘family’ of franchisees across the UK and Ireland it is fundamentally important that they feel confident that the business will continue to be developed with ethical franchising at its core”
Craig Brown at Signs Express said: “Throughout the years I have seen the company grow and prosper to become the UK’s largest sign franchise and it’s a great pleasure to be reaching the next phase of our company’s development. David and Frank have left us with a fantastic legacy and one which myself, Peter, Tony and now Jonathan are relishing the opportunity to build on in the coming years.”
Summarising their hopes for the future, David Corbett and Frank Eliel said: “We are delighted to pass the baton on to our well balanced and experienced team. They have the knowledge and skills needed to progress what we started, and most importantly will maintain the ethos of what we built. With a large ‘family’ of franchisees across the UK and Ireland it is fundamentally important that they feel confident that the business will continue to be developed with ethical franchising at its core.”
Signs Express has a staff of 20 at the Norwich headquarters and a group turnover in excess of £20m. The company is a full member of of the British Franchise Association and British Signs & Graphics Association.
