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Tuesday, July 22, 2014

Tharstern targets rapid growth after MBO sale

Tharstern Ltd, a pioneering specialist software house with over 550 worldwide installations, has been sold in a management buy-out (MBO) for an undisclosed sum. The people at Tharstern behind the deal are Managing Director Keith McMurtrie, Technical Director Antony Lord and Sales Director Lee Ward. They are supported by a combined debt and equity package from Mobeus Equity Partners.

The three have acquired a significant ownership stake in the business and will retain direct day-to-day running of the business in their current roles after the purchase from the family of the original founder, who originally set up Tharstern 30 years ago.

Tharstern Ltd has a £4million turnover and employs 46 people, of whom 30 work from the headquarters at Colne, Lancashire, in the UK, with the rest field-based. Tharstern will remain in its 10,000 sq ft recently refurbished premises.

Mr McMurtrie said: “This is fantastic news for Tharstern, our loyal staff and customers, many of whom have been with the company for many years and who are vital to our continued success going forwards. The deal will provide security and continuity, and ensures that Tharstern retains its brand and identity as a recognised world leader within the printing and allied industries.”

He added: “This move retains our independence and gives us even greater confidence for the future. It also gives us an even stronger platform for rapid growth in what we know is an expanding market.  Mobeus has proved itself to be a supportive investment partner and we will be working together to invest in Tharstern and continue the development of our market-leading product suite.”

Tharstern Ltd, which has strong ties to all the major printing vendors, has been providing workflow and Management Information Systems (MIS) to the global commercial printing and graphic arts industry for 30 years. It has been at the forefront of innovation, being the first to recognise the importance of many technologies that are now recognised as standard and is entrusted by over 10,000 users worldwide.

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