Management buyout completed at Quantum
Posted by admin at 11:59 AM on May 1, 2014
By Tony Corbin, Thursday 01 May 2014
Quantum Print and Packaging, a UK based manufacturer of printed and plain carton packaging, is now being run by Giles Foden and Peter Thomas following a successful management buyout.
Former sales director Foden, now joint managing director with former production director Thomas, described the buyout from founder Chris Holmes as “amicable”.
“Chris, who set the business up in 2005, wanted to retire and the plan was always for Peter and I to do an MBO,” Foden said. “It’s an exciting time for the company, the next step in a period of evolution. However, it is basically the same team but without Chris, so we’re not going to be messing around with a winning formula.”
The customer-led business recently invested in a new plant in Wednesbury, West Midlands, four miles from its previous site in Willenhall.
Foden said “The new factory has given us the opportunity to plan a production layout that enables a seamless work flow from start to finish which reduces downtime.”
The new management team was advised on the deal by Midas Accountants, Jobsons Solicitors and EGL Law.