Creative Graphics International sold in £11.3m BIMBO

Creative Graphics International (CGI) has been sold via an £11.3m buy-in management buy-out (BIMBO) supported by a combined debt and equity package from Mobeus Equity Partners.

Mobeus acquired its stake from CGI owner Steve Perry, who has retained a significant minority shareholding in the £11m-turnover UK- and South Africa-based screen and digital print business.

The five-strong BIMBO team, which includes group managing director Peter Owen and South African operations director Shaun Rosenstein together with three new management members brought in by Mobeus, has also invested in the business.

The new management members are Kevin Finn, who becomes executive chairman, Simon Barrell, group finance director, and Mel Goodliffe, who has been appointed group commercial director.

Perry retains a part-time role running a number of projects including new product areas and some business development.

CGI employs 43 staff in Bedford and 185 staff in Cape Town and produces external graphics, information and safety labels for the automotive and aerospace industries. It is a tier-one supplier of decorative graphics and regulatory labelling to Toyota, Ford and Volkswagen.

It also supplies technical self-adhesive branding solutions to Virgin Atlantic, Virgin Galactic and Ryan Air in the aerospace market.

Chris Price, investment director at Mobeus, said: "The business is a design-led, value-add printer. We see it as a niche printing business that is very closely tied into the automotive and transport sector.

"The majority of the business is screen and digital printing onto vinyl substrates, which then ends up in a number of different applications. The biggest market is the RV or caravan market where CGI supplies the big OEM manufacturers."

Price said that Mobeus would act as a partner to the management team and that it had evergreen investment funds and as such could be a long-term supportive investor.

"We've invested in a business that has a strong platform for growth, with long-standing customer relationships developed over 20 years, and we have added a significant level of sales resource [to that business]," he added.