The Padstow-based book manufacturer, TJ International, has completed a management buy-out led by Andy Watts.
Watts has 30 years’ experience in the print industry, which includes senior positions at St Ives Roche, CPI Books and The Sherwood Group.
TJ International was founded in 1969 and has grown annual sales to over £13.5 million. The business provides solutions for a diverse range of international publishers, specialising in offset, digital and on-demand production.
This transaction will ensure ownership remains in management’s hands and provide continuity for TJ International’s customers, employees and suppliers. Andy Watts will become MD, with Andy Vosper remaining as sales director and Angus Clark will move to the role of executive chairman and provide support for the transition of ownership.
Watts said: “We are keen to build on the solid foundation that’s been laid and are very excited about the future plans to build on the tremendous success achieved so far. It is very much business as usual for TJ International and we will continue focusing on providing a quality service for our customers.”
Clark added: “We look forward to the next chapter of the company’s development with the right team in place to deliver the company’s long term aspirations.”
Isca Ventures acted as the lead corporate finance advisor on the transaction, with funding provided by Lloyds Bank and legal support from Michelmores, Tozers and Nash&Co.