Livingstone hits a hat-trick with triple disposal for Adare

March 2007

Less than a year after arranging the deal which allowed the management team of print management group Adare to buy their business from Irish investors Allen McGuire & Partners for £120 million, Livingstone has successfully teamed up with Robert Whiteside and his team once again to assist them in the launch of the ‘new look’ Adare.

Following the successful re-launch of Adare in January 2007 as a single branded provider of end-to-end Marketing and Corporate Communications Solutions, two subsidiaries were deemed to be non-core, On Demand Communications, operator of the well-known, franchised Kall Kwik and Prontaprint design and print centres, and Irish educational publisher CJ Fallon.

Having been impressed with the Livingstone’s performance throughout their MBO last year, Whiteside and Finance Director Clinton Everard were keen to retain the team to help them divest these activities on the best possible terms.

Livingstone conducted a tightly controlled process to minimise disruption to both businesses and the wider Adare group, receiving a number of offers from private equity for either or both of the companies. The most attractive of these offers came from Irish investor Boundary Capital, who agreed to acquire both businesses for £43 million, providing both a clean solution for the vendors and an attractive value for these assets.

“We are delighted to have assisted Adare on these disposals and in Boundary Capital, the businesses have found a home which will enable them to prosper as independent brands in the future.“ said Patrick Groarke, Partner who led the deal.

“Livingstone are delighted to have been able to assist Adare in the re-focusing of the business. The transaction again highlights the level of interest in quality assets within the sector,” said Alex Sheffield, who also worked on the deal.

Patrick Groarke, partner
Tel: 020 7484 4707
Email: pgroarke@livingstonepartners.co.uk

Phillip McCreanor, director
Tel: 020 7484 4725
Email: pmccreanor@livingstonepartners.co.uk

Alex Sheffield, director
Tel: 020 7484 4734
Email: asheffield@livingstonepartners.co.uk

Graham Carberry, deal leader
Tel: 020 7484 4728
Email: gcarberry@livingstonepartners.co.uk