MIS developer Tharstern has undergone an MBO. Managing director Keith McMurtrie, technical director Antony Lord and sales director Lee Ward are behind the deal, which has been supported by a combined debt and equity package from Mobeus Equity Partners.
McMurtrie, Lord and Ward have acquired a significant stake in the business and will retain direct day-to-day running of the business in their current roles after the purchase from the family of the original founder who set up Tharstern 30 years ago.
Tharstern has a £4m turnover and employs 46 people, of whom 30 work from the headquarters at Colne, Lancashire, in the UK, with the rest field-based. Tharstern will remain in its 929m2 recently refurbished premises.
Mr McMurtrie said: “This is fantastic news for Tharstern, our loyal staff and customers, many of whom have been with the company for many years and who are vital to our continued success going forwards. The deal will provide security and continuity, and ensures that Tharstern retains its brand and identity as a recognised world leader within the printing and allied industries.”
He added: “This move retains our independence and gives us even greater confidence for the future. It also gives us an even stronger platform for rapid growth in what we know is an expanding market. Mobeus has proved itself to be a supportive investment partner and we will be working together to invest in Tharstern and continue the development of our market-leading product suite.”