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[July 2000]
Management Buy-out secures 60 jobs at Rathbone
A Management Buy-out, led by former Rathbone managing director Mark Chilton, has secured the future of 60 jobs at the Longton-based specialist ceramic transfer (decal) printer.
Rathbone International was formed in 1999 from the merger of two ceramic transfer printers owned by the Flare Group PLC (CMS Colours Ltd and CH Rathbone & Sons Ltd). On 19 April 2000, Flare Group PLC petitioned the court for the appointment of Administrators. Adrian Wolstenholme and David Duggins of Arthur Andersen were appointed on 19 April 2000. The Administrators continued to trade the business whilst they negotiated a sale with interested parties. These negotiations culminated in the sale of the business to the management on 14 June 2000.
Well know as a premier four-colour system printer for ceramic in the UK, Rathbone is said to be particularly well regarded in the industry for its heat release application decals. The company also has a strong reputation for producing prestige products using precious metals. With 17 printing presses on the 48,000 sq.ft. site (in Longton, Stoke-on-Trent, England), it is claims to be able to produce the widest range of printed products in the UK ceramic industry.
Mark Chilton was managing director of CMS Colours, and later CH Rathbone, between 1996 and 1998, when the turnover reached over 5 million per annum. He said: "The company has been through a turbulent period with the consolidation of the two businesses on to the Caroline Street site in 1999 and collapse of the Flare Group in April. We have the capacity to significantly increase production but, in the short term, it is important that we focus on restoring the stability of the company by ensuring consistency of quality, service and value for money".
Within the management team, Gail Eaton will be responsible for technical issues, sales will be led by Stuart Jones and Kath Bradbury, and design by Gill Pickstock - all of whom have been with Rathbone for a number of years and are well respected in the industry. The employment contracts for the 60 staff have all been transferred to the new company and Mark Chilton anticipates no further redundancies following the resizing of the business in line with current market trends. "On the contrary," he commented, "we hope to be strengthening the team in certain positions which are key to our future plans."
Mr Chilton, who headed the MBO team that acquired the assets of Rathbone International for an undisclosed sum, says that he is confident of a brightfuture for the company: "We have some of the most technically advanced reprographic and digital printing systems in the industry, which continue to open doors to new opportunities for us.
"The current order book is at its best for six months and prospects for the future are bright. Morale amongst the workforce has lifted since the announcement and everyone is appreciative of the loyalty shown by our customers through what has been a difficult period."
ENDS