Management buyouts are a rewarding experience but you always have to go into them with your eyes open, says a Merthyr based print firm.
“Management buyout opportunities are a fantastic achievement for anyone brave enough to take on a business from someone else but they do not constitute an easier path in business.” says Hayley A. Jones, Director at Rainbow Print Wales. “The success of them, in our opinion, only comes with a slow steady approach and a great deal of prior experience with that business.”
Directors Darren Roberts and Hayley A. Jones started at Rainbow Print in 1986 and 1987 respectively, before purchasing the business via a management buy-out in 2002. The firm, based in Pentrebach in Merthyr Tydfil, celebrates 30 years in business this year.
Discussing the nature of her company’s MBO, Ms Jones said:”The previous owner decided to take early retirement and had always wanted to pass the business over to us. We had played a big part of the company’s success and it was a natural transition for all parties concerned.Rainbow was always going to be part of our future.”
When asked what advice she would give to those looking to buy out an organisation, Ms Jones said: “Learn as much as you can about all aspects of the business for as long as possible before even entertaining the idea of an MBO, in our case it was approx 16years, especially if you haven’t run a business before. If you intend to buy with other people be absolutely sure they are the right people as working alongside someone and running a business with them are often completely different.”
Rainbow Print (Wales) Ltd are a Lithographic and Digital printers also offering a wide range of print related services and products.