A print management company is expecting to create new jobs and see a rise in turnover following the completion of a management buyout (MBO).
A six-figure funding package from HSBC UK has supported the MBO at MRC Print with sales director Mike Sharp taking 55 per cent of the remaining shared to become the sole owner of the business.
The HSBC funding will also support the acquisition of new consultative technology to increase production capacity for sales of full-service print, packaging and postage solutions across the UK.
The company, based in Newcastle-under-Lyme, now expects to create three new jobs, supporting an anticipated 22 per cent increase in turnover over the next 12 months.
Mike said: “Demand for our services has significantly increased over the past few years and we are looking forward to continuing to expand across the UK with this new ownership structure.”
Gbemiga Adelowo, relationship manager at HSBC UK, added: “We are committed to helping local businesses achieve long-term growth ambitions. That’s why we’re proud to support MRC Print with this funding, to enhance the operational efficiency of the business and expand its customer offering. We look forward to seeing what’s to come for MRC Print under new ownership.”
MRC Print’s customers include Virgin Atlantic and British Airways.
