UK private equity fund Elaghmore is delighted to announce it has acquired one of Europe’s leading visual communication experts, Concept Group Limited (“Concept”), Concept provides distinctive sign and large format LED solutions using traditional, bespoke and digital signage. Customers include some of the world’s largest Out of Home advertising companies, including
Global Media Group, Open Media, and JCDecaux.
Birmingham-based Concept will become part of the Hexcite Group which Elaghmore created in 2019. The Hexcite Group provides specialist signage design, manufacturing, installation and vital aftercare services to leading retailers and brand owners The Hexcite Group includes Blaze Signs which has substantial signage manufacturing capability out of its sites in Broadstairs and Birmingham. Blaze designs, manufactures and installs high-quality signage for well-known brands, including The Gym Group, Vision Express, Tesco and Sainsburys. Hexcite also includes Cygnia Maintenance Ltd which is the UK’s largest and leading provider of sign maintenance, sign repairs and image protection services.
Concept will continue to be run by Managing Director, Sean Morrough and Director, Dave Neale, with the company reporting to Wes Mulligan, CEO of Hexcite Group. Concept’s 18-strong workforce will become part of Hexcite Group.
The acquisition of Concept Group means Hexcite Group’s annual turnover is c.£35 million with a customer base of more than 250 retailers, financial institutions, facilities management companies, and internationally recognised brands.
Concept is the twelfth acquisition made by Elaghmore from its investment funds worth £100 million. The investment strategy of Elaghmore is focused on businesses that present a significant opportunity for growth and value creation. Elaghmore has a strong track record over the past decade, investing in and successfully growing companies. Together, the businesses acquired by Elaghmore have a combined annual turnover of c. £350 million and employ around 2,700 people across the UK and Ireland.
Wes Mulligan, CEO, Hexcite Group, said: “The Digital Out of Home advertising market has great growth opportunities, and Concept is well placed to be a key player. Working closely with Blaze Signs adds substantial technical and manufacturing expertise to Concept, and our Cygnia maintenance business can help Concept accelerate its digital signage maintenance capability. Concept’s offer will be of great interest to Blaze’s customer base, which will now have the option to go to one place for their traditional internal and external signage work as well as their digital signage requirements. Both Blaze and Cygnia are performing well. We expect Concept to reinforce its position as one of the leading full turnkey system integrators in its sector.”
Sean Morrough, Managing Director, Concept, said: “We are delighted to be working with Hexcite Group and Elaghmore. They will help significantly enhance the service we provide to our clients through the increased manufacturing capacity, technical resource, and geographical reach that being part of Hexcite Group will bring us.”
Elaghmore were advised by Mills and Reeve LLP (Legal)
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Elaghmore Advisory LLP is an Appointed Representative of NCM Fund Services Limited (FRN 183732) which is authorised and regulated by the Financial Conduct Authority
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