PE Fund Elaghmore acquires Blaze Signs
UK private equity fund Elaghmore is delighted to announce it has acquired one of the UK’s leading signage businesses, Blaze Signs Holdings Ltd (“Blaze”).
Based in Broadstairs, Kent, and with a substantial manufacturing and service centre in Birmingham, Blaze designs, manufactures, installs and maintains high-quality signage for well-known brands, including Lloyds Bank, Vision Express, Tescos and Sainsburys.
During the pandemic, Blaze has also been providing social distancing and signage solutions for its customers.
The acquisition includes Blaze’s trading subsidiaries Blaze Signs Ltd and Cygnia Maintenance Ltd. Cygnia is the UK’s largest, and leading provider of sign maintenance, sign repairs and image protection services.
In total, Blaze employs 250 people across the UK and made c.£25 million in revenue in 2019. The management team led by Clive Knight, Chris Abbott & Fraser Burns will continue to lead the business following the acquisition. Elaghmore is acquiring Blaze from private equity firm Mobeus.
The combination of Blaze with Kesslers and Gardners will increase Hexcite Group’s annual turnover to c.£60 million with a customer base of more than 100 retailers and brands across the globe.
Clive Knight, CEO of Blaze Signs Holdings comments: “We are delighted to be joining forces with the Hexcite Group businesses and are excited about accelerating the growth and development of Blaze by working closely with numerous likeminded colleagues, who understand the vital importance of innovation, quality and first class service for our many retail and brand owning customers.”
Arbuthnot Latham in Leeds supported Elaghmore, providing acquisition and working capital facilities to supplement the Group’s equity investment.
Mills & Reeve’s Birmingham office, KPMG’s Manchester office and Squire Patton Boggs Leeds office all provided advice on the acquisition.