RBS leads buy-out
Print business acquired in £6.5m ‘bimbo’ deal
Royal Bank of Scotland contributed £2.95m to the deal through a combined arrangement of a loan, an invoice finance package and a Lombard hire purchase agreement.
ACA Press Cutters is the market leader in Scotland, growing from its origins creating Formes for the local print trade to being the nation’s largest fully integrated print finishing business.
The leadership team will oversee 80 employees in the Inchinnan-based company, operating from its 60,000sq ft premises.
Mr Changizi is a Glasgow based entrepreneur while Mr Keenan is a print industry veteran working for a number of organisations including SCA Packaging and J Thomson Colour Printers.
The business will focus on modernisation and expansion in key areas including health & safety, ISO & BRC Certification as well as investment in machinery and internal systems.
ACA will also drive sales, organically as well as through customer acquisitions throughout the UK.
Mr Keenan said: “From my time working at ACA, I knew it was a business that had great potential. A skilled workforce delivering exceptional quality within a lucrative market is the type of operation entrepreneurs jump at.
“With the help of Royal Bank of Scotland, I’ve been able to make this a reality. I would like to thank everyone who helped make this deal possible.”
Royal Bank of Scotland relationship manager, David Dickson said: “This is a really exciting business opportunity for the ACA leadership team. Dara is a long standing customer of the Royal Bank of Scotland and it’s fantastic to be able to support him once again.”
Photo: Joseph Keenan and Dara Changizi (contributed)