Tharstern Ltd, a pioneering specialist
software house with over 550 worldwide installations, has been sold in a
management buy-out (MBO) for an undisclosed sum. The people at Tharstern behind
the deal are Managing Director Keith McMurtrie, Technical Director Antony Lord
and Sales Director Lee Ward. They are supported by a combined debt and equity
package from Mobeus Equity Partners.
The three have acquired a significant
ownership 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 originally set up Tharstern 30 years ago.
Tharstern Ltd has a £4million 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 10,000 sq ft
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.”
Tharstern Ltd, which has strong ties to all
the major printing vendors, has been providing workflow and Management
Information Systems (MIS) to the global commercial printing and graphic arts
industry for 30 years. It has been at the forefront of innovation, being the
first to recognise the importance of many technologies that are now recognised
as standard and is entrusted by over 10,000 users worldwide.
