Marco Art Ltd, one of the first wide-format print centres in the UK, has secured £3.3m in working capital from Independent Growth Finance (IGF) after outgrowing its initial MBO funding from 2014.
Founded in 1992, the Surrey-based company specialises in the design and supply of wide-format digital printing for live events, exhibitions, retail and building wraps, and its clients include high-profile brands such as Harrods, Penhaligon and the Paris Air Show.
In 2014, YFM Equity Partners invested in Marco Art to support the incumbent management team with an MBO. The new senior leadership team set out to drive investment and change across the organisation, with a focus on production quality and processes. Since then the company has flourished, employing 100 members of staff and increasing turnover from £6m to £14m.
This push for growth resulted in Macro Art outgrowing its funding. Despite having a longstanding relationship with a high street bank, the senior team thought it strategically advantageous to partner with a more entrepreneurial lender that could support the next stage of growth. YFM Equity Partners wanted to secure funding that would grow with the business to continue its growth.
James Savage, YFM Equity Partners said: “Once we had identified a need to refinance, we spoke to five lenders. We hadn’t worked with IGF before but chose them for their sector knowledge. They moved quickly, meeting the company and responding to information requests. We were pleased with their ability to deliver exactly to the initial terms. IGF took over the entirety of funding from the existing bank lender, coming up with practical solutions to prevent stalling.”