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B&T management looks to buy-out

12.05.08 John Ryan

A bid by the management team of Butler & Tanner Printers to acquire the stricken Somerset-based concern has got under way with initial discussions taking place with administrators Hacker Young, who were appointed last week.

The team, led by Kevin Sarney, who has been with the company for 12 years, is being advised by Target Corporate Finance and is looking for potential funders to rescue the business.

Sarney said: “The company made good profits for the 15 years to 2003. Then like so many other UK printers the business suffered a dramatic downturn due to a high cost base, a pension deficit and, not least, overseas competition.” He continued: “Butler & Tanner is the only realistic provider of volume colour books in the UK and competes against a handful of European manufacturers.”

The news comes as former Butler & Tanner employees, who were laid off by post at the end of last month, have lodged a petition at the Birmingham District Registry of the High Court seeking to claim unpaid wages.

John Ryan Printing Home Butler and Tanner Kevin Sarney

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By Clive Keeble

I would strongly encourage all publishers to keep up to speed on latest developments, and should the opportunity arise, to "pledge" print work to this management team, for it will assist them in obtain adequate funding for this viable enterprise.

12 May 08 11:54

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By Just Me

Aren't these guys responsible for the original problems that allowed Dolan to pick the business up last August? What has changed in 12 months that now makes them so fantastic. I hope a new buyer comes forward, someone who can look after the new workforce in the way they deserve. What about Unite the Union seeking financial backing and try to get the old place back up and running. No need to let the corporate seagulls back in again.

12 May 08 20:18

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By Clive Keeble

My response to "Just me" is actioned by a desire to keep this topic live : it would be useful if the national newspapers could have concerned themselves with the background and history, but nowadays in-depth insight reporting on "industrial" matters is virtually non-existent. When MPI and Mike Dolan first started courting B&T, Mr Dolan had only been 'investing' in the print industry for just 12 months. B&T needed access to additional long-term investment. Kevin Sarney and his embryo management team were not the parties responsible for ultimately establishing terms on which B&T evolved into Butler and Tanner Printers Ltd (now in administration). As a co-operative socialist I would naturally be in favour of any involvement of the workers in all businesses ; that much said B&T - until the last decade - has very much been one big (happy) family enterprise, where everybody worked as a single team and the staff and management socialised. Until such time as Kevin Sarney and his team meet up with all the workers plus union chapel and national officers there will naturally be questions which need answering ; as for funding, I feel sure that there are enough potential investors who can see serious long-term prospects in getting behind such an operation.

13 May 08 07:47

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