A Newcastle printing company’s founder has stepped down as CEO following a management buyout by two of its longest standing employees.
Large Print Works founder John Laidler has sold 90 per cent of the company to former sales manager Natasha Scott and production manager Gareth Kerr, whilst retaining a 10 per cent stake in the business and remaining as a non-executive director. Scott will now head up the business as managing director with Kerr as production director.
Since its foundation as The Rip in 1988, Large Print Works has seen year-on-year growth and expanded its offerings from its 4,000 sq ft facility in the Hawick Crescent Industrial Estate. It currently employs seven staff.
Laidler, who is approaching retirement, said: “I had the option to sell it externally but because I had built the business from scratch, and my staff are like family having been with me for a long time, I knew deep down I would never be comfortable selling to investors. This way, we can safeguard its independence for the long term as well as providing some reassurance to our long standing clients that it is business as usual.”
The last financial year saw the business record a 30 per cent increase in sales, and it is on target to increase this further by the end of the next year. Large Print Works specialises in printing on materials including Foamex, posters, digital wallpaper, banner stands, exhibition displays indoor and outdoor billboards, and building hoarding panels. The company’s customers include local councils, North East businesses, universities, museums and design agencies.
