Manchester design group Grafenia acquires signmaker for £3m

Print and design group Grafenia plc has this morning (July 17) announced a seven-figure deal to acquire Image Everything Limited.

The Manchester-based company confirmed it will pay up to £3m for the large format sign manufacturer and exhibition contractor.

The total includes an initial consideration of £1.15m in cash and vendor loan notes of £1.25m, with a further £600k payable subject to Image achieving certain future financial performance targets.

Grafenia expects the acquisition to be earnings enhancing once Image is fully integrated into its group of businesses.

Neil Cousins, John Fitzgerald and David Brunt, the former owners of Image, will remain with the company.

Grafenia CEO Peter Gunning said: “Neil, John, Dave and the team have built a great business together. When we shared our sign roll-up plans with them, there was a natural click.

“It’s refreshing to meet a team with the same determination to deliver reliable service to clients. They truly centre their entire business around their clients and doing whatever it takes, no matter how tricky, to get the job done.”

He continued: “When we first met, it was immediately obvious that the culture at Image is similar to Grafenia’s. The more we’ve got to know the people, the clearer cultural alignment we’ve found.”

Image joint founder Neil Cousins commented: “The UK has huge potential for brand development across all sectors. Our vision is to supply a full range of commercial support products and services, from websites to commercial signage, and everything in-between, to satisfy that need.

“Joining forces with Grafenia is an organic fit and provides us with the catalyst to reach more customers, with more solutions, at a much faster pace.”

He added: “Grafenia’s vision for a nationwide network of Nettl studios was exciting to us and we see a unique opportunity and a moment in time to scale and develop something truly special together.”

The deal is not Grafenia’s first acquisition of 2017. In January, the company snapped up Liverpool-based signmaker Arthur Diamond Design Limited.

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