The ownership of successful Broadstairs firm Blaze Signs has changed hands. The company, which also has a manufacturing and service centre in Birmingham, has been acquired by UK private equity firm Elaghmore.
Blaze is one of the leaders in its field and specialises in the design, manufacture and installation of signs, It employs some 250 people nationwide and generated around £25million in revenues in 2019.
Customers include Lloyds Bank , Tesco, Sainsbury’s and Vision Express.
It has also been busy in recent months creating social distancing and other safety signs for its client base.
The acquisition includes Blaze’s trading subsidiaries Blaze Signs Ltd and Cygnia Maintenance Ltd. Cygnia is the UK’s largest, and leading provider of sign maintenance, sign repairs and image protection services.
The management team led by Clive Knight, Chris Abbott and Fraser Burns will continue to lead the business following the acquisition. Elaghmore is acquiring Blaze from private equity firm Mobeus.
It will now become part of the Hexcite Group which was created by Elaghmore in 2019. The group will provide design, communication, brand activation, display and merchandising products and services for major brand owners and retailers.
Blaze is the ninth acquisition made by Elaghmore from its £60 million, initial private equity fund.
Michael Rice, investment director at Elaghmore and a director of Hexcite Group, said: “By becoming part of the Hexcite Group, Blaze will add new capabilities that increase the ways we can help our customers as well as growing our network of retailers and brands.
“Together, we look forward to growing our share of the marketplace and would embrace opportunities to add other compatible businesses to the group.”
Clive Knight, CEO of Blaze Signs Holdings, said: “We are excited about accelerating the growth and development of Blaze by working closely with numerous like-minded colleagues, who understand the vital importance of innovation, quality and first-class service for our many retail and brand owning customers.”