UK private equity fund Elaghmore has acquired Concept Group Limited out of administration.
Chris Pole and Howard Smith from Interpath Advisory were appointed as administrators to Concept Sign and Display Limited on the August 18, 2022. Historically profitable we are told, the company was negatively impacted by the COVID-19 lockdowns and this coupled with the impact of ongoing legal costs relating to a contractual dispute, placed significant cashflow pressure on the business which subsequently collapsed.
Immediately following their appointment, the joint administrators concluded a sale of the business and its assets to UK Private Equity fund Elaghmore. Chris Pole, Managing Director at Interpath Advisory and Joint Administrator, said “Concept Sign and Display have a fantastic track-record of providing creative and innovative signage solutions at high-profile locations around the country. We’re delighted to have completed this transaction which secures the future of the business, as well as safeguarding the jobs of 17 employees.”
The Hexcite Group includes Blaze Signs which has substantial signage manufacturing capability out of its sites in Broadstairs and Birmingham. Blaze designs, manufactures and installs high-quality signage for well-known brands, including The Gym Group, Vision Express, Tesco and Sainsburys. Hexcite also includes Cygnia Maintenance Ltd which is the UK’s largest and leading provider of sign maintenance, sign repairs and image protection services.
Concept will continue to be run by Managing Director, Sean Morrough and Director, Dave Neale, with the company reporting to Wes Mulligan, CEO of Hexcite Group. Concept’s 18-strong workforce will become part of Hexcite Group.
Concept is the 12th acquisition made by Elaghmore from its investment funds worth over GBP 100 million. The investment strategy of Elaghmore is focused on businesses that present a significant opportunity for growth and value creation. Elaghmore has a strong track record over the past decade, investing in and successfully growing companies. Together, the businesses acquired by Elaghmore have a combined annual turnover of c. GBP 350 million and employ around 2,700 people across the UK and Ireland.
Elaghmore Partners LLP was founded in 2012 by David Manning, Andy Ducker and Greg Koral. Based in Leamington Spa, the team has a strong track record of investing in and successfully growing UK businesses, largely through operational transformation including Chaucer Foods and St Neots Packaging. Elaghmore’s investment strategy is focused on UK-headquartered industrial businesses that present a significant opportunity for growth and value creation.
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