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Success Story

Painting the perfect exit planning picture for Image Factory

Terry Smith, Managing Director of Image Factory, had used Hallidays as his business advisor since he purchased the company. Now at retirement age, Terry wanted to ensure he had the perfect exit strategy in place. Here’s how we helped…

The situation beforehand

After years of organic business growth, Terry felt that the company was at the stage where it would benefit from a larger corporate partner to drive the business forward.

Terry needed an exit strategy that would allow him to continue in the business for a short while to support his team and ensure they were on board with the turnaround.

Terry wanted to make sure the business had the necessary funding in place for the sale of the business and ensure a smooth transition during the turnaround process.

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The success we've achieved

Hallidays assisted with the projections for the business sale and gave strategic advice around the restructure giving Terry confidence the business would be sold to a suitable buyer.

Following completion of the sale to Paragon Group, Terry has been retained as Commercial Director with all of his team still at Image Factory and growth plans in place for the company.

Hallidays CF supported with accessing funding during the turnaround and transition process to Paragon Group. The deal smoothly went ahead giving Terry peace of mind and the ability to move forward with his retirement plans.

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Outcome

A clear exit strategy

Image Factory hit some difficulties in 2018 due to Brexit issues, deferred projects and lack of confidence in the high street. Through strategic planning with Hallidays, Terry now has a clear exit strategy and Image Factory has strengthened following the sale to Paragon Group, a £900 million turnover company based in Dublin.

Paragon Group have also taken the option to purchase the trading premises after 3 years. They plan to combine Image Factory with their manufacturing facility in Taunton.

“I’d like to thank Hallidays for their sound advice and support throughout the whole process. The deal and transition process went smoothly and we’re looking forward to the future with confidence.”

Terry Smith Managing Director - Image Factory
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