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A business consultancy, based in London, England, John Sacks' JSA Consultancy Services provides expert, in-depth, information advice and guidance as to how to exploit successfully the office furniture and interiors markets in Europe, North America, Australasia and Japan.

BUY-IN MANAGEMENT BUY-OUT OF LOGIC OFFICE GROUP

Wednesday 10 June 2009


Logic Office Group, the UK manufacturer of contemporary office furniture, is the subject of a £1million buy-in management buy-out (BIMBO). The current management team will provide strong continuity and a renewed focus for the 40-year-old Logic Office Group, a subsidiary of listed parent Black Arrow Group plc.
Paul Edward and Simon Watts will remain as directors of the furniture division based in Hounslow, Charles Gee will continue to lead the contracts operation at Sevenoaks, and Tony Cole will remain as factory director of Kudos, the manufacturing arm at Rotherham.
The business employs about 60 staff across all three sites and there are no plans for redundancies. The current management team will jointly acquire a 40 per cent stake - their first significant investment in the business. This will be complemented by a 60% stake held by a consortium of shareholders headed by office interiors specialist Mike Gardner, and including Black Arrow Group plc.
The business was founded by Arnold and Maurice Edward, whose families hold the majority of shares in the parent company and who will retire from the furniture business. The new investment in Logic Office comes after extensive research by Arnold Edward into a succession strategy, culminating in his invitation to Mr Gardner to complete the management team.
Mr Gardner has built Claremont Group Interiors from a £2m to a £25m a year company and will use his 25 years of experience in office fit-out and refurbishment to support the Logic Office Group management team’s drive to expand the business.
Logic Office Group manufactures industry-leading office furniture and designs and fits out office space. Logic Office Group clients include major international and domestic companies.
Mr Gardner said: “I want to use the knowledge I have accumulated in building Claremont Group Interiors to progress the development and expansion of Logic Office Group. I have a track record of spotting the potential of a business and growing it and am very confident of being able to repeat that success with this opportunity. This is a deal designed to bring positive change to Logic Office Group and I will be working with the management team to grow the business.”
Mr Gardner confirmed that the deal was not a takeover of Logic Office Group by Claremont Group Interiors. The Warrington-based business is the largest office interiors and fit-out firm outside London. Mr Gardner said: “Whilst I remain absolutely committed to Claremont and will continue as Managing Director, we have built a strong management team and I have every confidence in the people who manage Claremont on a daily basis. “I do believe in empowering my management team, and working with them to build a successful business has brought significant benefits and I hope to replicate this approach with Logic Office Group.”
Black Arrow Group plc will continue to be listed on AIM and Logic Office Group will trade privately as a new company.

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