| News | < July 2008 - August 2008 - September 2008 > |
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Somerset-based book printer Butler & Tanner has been relaunched following its acquisition by one of Britain’s most successful publishers, Felix Dennis. The brand new printing business reopened on 1 August 2008 with the name, Butler, Tanner & Dennis. The relaunch is a victory for the management team and their advisors Target Corporate Finance, which spent three months putting together a rescue package for the business. The company will be run by a new board of directors, with Felix Dennis as chairman and former Butler & Tanner director Kevin Sarney as managing director. The business will trade from its premises in Frome and will open with 80 former members of staff on site. Butler & Tanner’s product range has included books by Delia Smith and Jamie Oliver and corporate brochures for Aston Martin and Rolls Royce. Felix Dennis is chairman of Dennis Publishing, the magazine and online publishing company, whose titles include Auto Express and Men’s Fitness. He is also a best selling poet who printed his last volume, “Island of Dreams:99 Poems from Mustique”, with Butler & Tanner. His next book will be one of the first to be produced by the new company in August. Felix Dennis said: “We strongly believe that book and corporate publishers in the UK will seize the chance to reduce the carbon footprint of their publications by working with Butler, Tanner & Dennis, rather than in Asia and other faraway places. We look forward to providing the UK’s publishing industry with a quality colour printer based in the UK.” After Butler & Tanner was closed at the end of April with all staff made redundant, the Bath office of Target Corporate Finance was called in by the management team trying to save the business. The team was led by Kevin Sarney, who had been with Butler and Tanner for 12 years, and included fellow directors Dave Mills and Jeremy Snell and former managing director, Peter Maunder. Kevin Sarney said: “We are absolutely delighted to announce the success of the relaunch of Butler & Tanner. We would like to thank all those who have supported us, in particular Felix Dennis. Butler & Tanner is the only potential provider of colour books in the UK and competes against a handful of European manufacturers. We believe that there is a need within the UK market for the services that Butler & Tanner can provide.” Mark Harman of Target said: “The re-launch of Butler & Tanner is fantastic news for the employees, the community of Frome and, just as importantly, the UK publishing industry. We have worked with Kevin Sarney and his management team for the last three months on this rescue package. The approach of Felix Dennis and his team has given the whole project the momentum it needs. “There has been a huge amount of hard work put in by the Dennis team, the management and advisors. The Target Corporate Finance team are pleased to have been able to play an integral part in the rescue and relaunch of the company.” ENDS Specialist teams are in place to handle the different needs of large companies, small businesses and private clients. Target is particularly effective in advising shareholding directors who want to realise maximum value from their business. The firm has led and supported numerous corporate transactions ranging in value from £500,000 to £75 million. Media inquiries to:
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 and Kevin Sarney (BTD).JPG)
Target Chartered Accountants has become the fastest growing of all the
Target has leapt up 14 places to be ranked as number 33 in this year’s top 50 league, compiled by industry magazine Accountancy Age. The firm was also featured on the magazine’s front page, highlighting the way in which it had bucked the trend at a time when many other firms were reporting slowing revenues. The average growth amongst the top 50 firms was 5.7 per cent.
Target achieved fee income of £15.1 million during the year, up from £10.1 million in the previous 12 months. It also increased it director appointments to 12 from 7.
Group managing director Keith Seeley said the firm had grown partly through acquisition – Target acquired City of London firm Winters in July 2007 – however, its success was largely due to its ability to provide value-added services.
He said: “We have a lot of expertise within the firm and are equipped to offer specialist services such as corporate finance, tax consultancy, financial services and advice for private clients including many high net worth individuals.
“We pride ourselves on not being just number crunchers but advisers who can make a valuable contribution to a business. We are an entrepreneurial firm ourselves so we understand the needs of others and aim to provide value-driven business solutions. If there is a commercial advantage to be gained for our clients, we will help to find it.”
ENDS
Notes to Editors
Target is a ‘top 50’ firm of chartered accountants specialising in owner managed businesses and people who want to maintain and increase their wealth. The firm has offices in the South West,
Specialist teams are in place to handle the different needs of large companies, small businesses and private clients. Target is particularly effective in advising shareholding directors who want to realise maximum value from their business. The firm has led and supported numerous corporate transactions ranging in value from £500,000 to £75 million.
Media inquiries to:
Dabbs PR & Marketing
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F: 01939 210526
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