Magnet Harlequin MBO sees Bett retire

Magnet Harlequin founder Gerry Bett has retired after an MBO at the Uxbridge-based repro house.

An approach from a Swedish asset management firm to acquire the company last year, which fell through at the last minute, led to the idea of the MBO.

A five-strong management team headed by managing director Alan Wright has bought the firm for an undisclosed sum.

Business development director Colin Dawson, financial director Ray Marks, commercial director John Coleman and production director Richard Beadle are the others involved.

The firm will concentrate on its dashboard concept, which gives marketers and print buyers a web-based workspace for asset management, artwork approval and print management. This approach is backed up by a nine-strong IT department with three programmers.

From its roots in packaging repro the firm has expanded to include asset, brand, facilities and print management. It also has in-house digital printing and digital photography.

A new 450m sq photography studio is about to be opened next to its premises in Uxbridge, and its looking to expand its four repro in-plants to other customers.

The firm is set to turn over 7.5m this year.

Story by Barney Cox