Metamark completes £62m MBO

Lancaster-based sign specialist Metamark (UK) Limited has been bought from the founder shareholders, Mark Bateson and Mike Stuart, for £62m.

The management team is led by Paul French (chief executive) and Ian Simister (sales director). Matthew Enright joins Metamark as its chief finance officer.

The deal was led by Iain Wolstenholme, Alistair Armstrong, and Chris Hopwood at Primary. Metamark is Primary’s fifth investment from their Primary IV Fund.

Paul French said: "We have some very exciting plans for Metamark. They will ensure that our growth continues on the upward trajectory we’ve established both in the UK and internationally.

"Our technical leadership and service led ethics mean we can achieve scale in markets such as construction while growing opportunities in our established channels with new, product-led applications. In Primary we have an investment partner who shares our ambition and values." Santander and Yorkshire Bank provided senior debt finance for the deal and working capital facilities to help fund future growth. A KPMG Corporate Finance team, led by Alex Hartley, advised Primary on their investment. The vendors were advised by CLB Coopers.