Almost a year after Andrew Phimister and Ray Williams bought Baynham and Stansfield Badge Company, the business is said to be going from strength to strength with sales up 20 per cent year on year.
Mr Phimister and Mr Williams - who are also directors of Beaumont PPS, a company specialising in merchandising for the distillery trade - purchased Baynham and Stansfield Badge from retiring owner Pete Stansfield.
They were advised by Clement Keys partner and corporate finance expert Ross Cocker, who brokered the deal and brought in Martineau Johnson as the legal team and finance specialist Heliium.
Baynham and Stansfield Badge Company was established in 1976 and is based at Coppice Trading Estate in Kidderminster. It had a turnover of £763,000 last year. The number of employees is about 25.
It specialises in the production of button badges, offering a range of six sizes printed in up to six colours.
The company is in control of the whole process because everything, from design and artwork to printing, moulding, pressing, assembly and packing, is carried out at its own premises.
All employees were retained in the takeover and the new owners were quick to invest in the infrastructure of the business, refurbishing the offices and improving the overall layout of the buildings.
They have also implemented improved management systems and a new health and safety policy and have rebranded the firm as Baynham Badges, updating its corporate identity and developing a new website.
"Baynham Badges manufactured thirteen and a half million badges last year and supplies to global food retailers, blue chip companies, local authorities and schools, the entertainment industry and niche tourist attractions," said Mr Phimister.
"I can honestly say this is a successful Midlands manufacturing business and our advantage over foreign imports, which some might consider our main competitor, is that we are cost effective and can turn around orders very quickly."
Mr Phimister and Mr Williams are using a blueprint that Clement Keys prepared for them in connection with a previous business acquisition to provide the clear and detailed monthly management accounts they need.
"In all their commercial initiatives Andrew and Ray want access to regular and detailed information, as this will not only highlight any potential problem areas, but will also help them identify market trends and business development opportunities," said Mr Cocker. "We will continue to act as a sounding board and provide advice as the business enters its next phase."
