A creative production agency has secured £140,000 to fund a management buyout. Matrix Graphics in Birmingham provides creative content such as social media and advertising for brands like Rolls Royce, Network Rail and the Open University.
The previous owners had been looking at all options through a sale when directors Mark Wheeler and Mark Harknett indicated they wanted to take over the business which has 16 staff at its base in Newhall Street.
Mr Wheeler said: "The previous owners had led the business through difficult times, including the pandemic, and wanted to go in a different direction through a sale which could have resulted in roles being lost under new ownership.
"Matrix Graphics is a great business with more than 30 years of heritage and some fantastic clients so we were keen to take over ownership."
Mr Harknett added: "We wanted the business to have as much continuity as possible as it has a great team and some leading clients.
"Mark and I have known each other for more than 30 years so our friendship and strong sector experience will be the basis for the growth of Matrix Graphics.
"We are implementing a 90-day plan to put in place new systems and strategies for growth, with the motivation of building on the success of a business where we have worked for years and know its potential."
The MBO was supported by the funding package from Wolverhampton-based BCRS Business Loans.
Senior business development manager Louise Armstrong said: "As a co-operative community development finance institution, we are committed to supporting the growth and prosperity of as many businesses as we can across the West Midlands region.
"Matrix Graphics is an incredible business which delivers engaging creative assets for use by household name brands on every marketing channel.
"With a strong leadership team and deliverable plans, we knew this funding would allow a management buyout which can bring further success."
