Focus Label Machinery enters administration
UK label printer manufacturer, Focus Label Machinery, has ceased trading and entered administration due to major cashflow issues, with all of its staff made redundant
KBS Corporate has announced the sale of printing business Formara Ltd to boutique private investment firm Lifeboat Management.
Founded in 1971, Formara operates as a printing specialist for commercial clients located in London and the Home Counties. The Southend-based company has diversified into a range of markets, allowing it to offer varied marketing and communications solutions to clients.
KBS Corporate, which advised on the sale, did not disclose the financial terms of the deal. Buyer Lifeboat had been looking for scalable opportunities in the commercial market.
“Lifeboat’s approach to buying the business was underpinned by its commitment to conserving Formara’s history, culture and strengths in order to drive its continued success and look after the team that has helped to build it,” Formara’s managing director Phil Wilce says.
Fabio Rambelli, associate director at KBS Corporate, adds: “Phil wanted to meet interested parties that were personable and dedicated to keeping Formara on a successful trajectory post-sale.
“It has been a pleasure working with all parties on this project. I wish Phil a very happy retirement and the Lifeboat team a successful and profitable future with Formara.”
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