Sykes Group

Target company details

Target name: 
Sykes Group
Country of Target: 
United Kingdom

Buyer details

Buyer name / MBO / MBI details: 
Bennetts (Typewriter & Office Supplies) Ltd
Country of Buyer: 
United Kingdom

How we helped

How we helped: 
Lead advisers to the management team

Two of the city’s leading office products suppliers have merged with effect from 1st June 2006. Sykes Group has acquired the business of Bennetts (Typewriter & Office Supplies) Ltd. Both businesses supply office products, and the merged business will supply one of the most comprehensive ranges of office stationery, technology and furniture in the East Midlands.

The new Bennett Sykes Group will trade from Bennetts present site at Iremonger Road, off London Road, Nottingham. It will be led by David Sykes, who will relocate his business from Bulwell into the City.

Bennetts has been established in Nottingham for 60 years. Its managing director, Leonard Gelblum, is retiring after 38 years in the trade.

David Sykes commented “Bennett Sykes Group will have a broad offering to serve the requirements of the modern office. The two businesses are very complimentary in the services they offer, and I am looking to continue to grow the combined business. I am delighted to be able to join forces with such a well established business as Bennetts, and wish Mr. Gelblum every happiness in his retirement”.

The combined group will have a turnover of around £10 million and employ over 70 people.

All of the advisers working on the transaction were Nottingham based. Sykes Group were advised by Cooper Parry, with legal advice from Austin Moore at Gateley Wareing. Bennetts were advised by Andy Warrilow at Grant Thornton Corporate Finance, with Patrick Billyeald of Berryman providing the legal advice. Bank support was provided by Royal Bank of Scotland, Nottingham, led by Guy Middleton.