Lucena Capital supports the commercial director as the new managing director of the Impress Group

Since its inception in 1997, Impress Group has emerged as an important name in the North East engineering sector. The company employs over 110 people across its Blaydon and Washington sites, solving complex problems for customers across the region and beyond.

With the impending retirement of managing directors George Peel, Steven Young and David Haley, Impress now finds itself in new but familiar hands, with its commercial director Jason Young taking over as managing director.

Jason joined the company 23 years ago and has been instrumental in the company’s growth. He worked his way from his first sales and administrative position to taking over the management of the growing company. He is supported by Ben Suquet, the founder of Lucena Capital, who invested in Impress and will plan the company’s next development phase together with Jason.

Jason, who will lead the day-to-day operations of Impress, will also retain the knowledge and experience of George and Steven as they continue in their current roles over the next two years.

“This is definitely an exciting time for the company and we are thinking about making significant investments across the board,” says Jason.

“We have identified a number of growth areas that we want to pursue. The precision engineering market is evolving rapidly as new technologies come to market and we really want to continue to be at the forefront.

“We are also investing in improving our processes and internal systems and have already started modernizing our ERP systems. We will also focus on our people, who have made Impress the company it is over the years through investment in training and development.

“We are always interested in adding new people to our team. One of the biggest obstacles to growth is not finding the right people. That’s why we’re interested in hiring people who will support our continued growth and maximize our capabilities. ”

Ben says he looked at over 600 ventures before finding the ideal fit for Impress Group.

“I quickly became very impressed by the depth of knowledge, talent and skills in this business, the quality of their work and also the passion of Steve, George and Jason. They truly care about the company, their employees and their customers,” he said.

“The company has a fantastic track record of serving its customers and by investing in our continued growth we can ensure we have the capacity to support the growth of our customers’ businesses.”

“George and Steve are not just owners looking to get out – they care deeply and that was very important to me when investing.

“Supporting people who love what they do and who care about others is very important and appeals to me much more than a pure financial investment.”

Commenting on his appointment as managing director, Jason added: “I have been working towards this for a number of years, with the support of George and Steve. The love they have for this business and industry is fantastic, they are very passionate entrepreneurs and they have built a great team that shares the same ethos.

“We are really well placed to continue to grow and develop and it is quite an emotional step for me to officially become MD.”

The transaction was supported by award-winning boutique WilliamsAli Corporate Finance, with Abu Ali and Tristan Woolcock leading the transaction. Daryl Peart of Virgin Money provided financial support for the transaction. John Nicholson and Max Gilchrist of Mincoffs Solicitors advised Jason.

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Abu Ali, managing director of WilliamsAli Corporate Finance, said: “Impress Group has earned a fantastic reputation for the quality of its work and commitment to its customers, and the company’s ethos has been guided by its founders, who continue to enjoy it. “ Passionate about the work they do.

“Under Jason’s leadership, as someone who shares this love and dedication, the company is ideally positioned for continued growth.

“Lucena Capital is committed to supporting the growth of companies in the long term, carefully selects the companies in which they want to invest and works extremely closely and proactively with their owners to create a successful future together. This is a model we don’t see often but has resulted in an excellent track record for Ben and Lucena.”

John Nicholson, Corporate Partner at Mincoffs Solicitors, says, “It has been my pleasure to advise Jason and the other sellers during this period of transition for the Company and to deliver a successful outcome for all involved.” We are confident that Impress Group will be among “The new management structure will continue to be successful.”

Hill Dickinson (legal), Gerald Edelman (finance) and K3 Advisory (tax) supported Lucena Capital. Tony Tomlin of Debere NE (Tax) and David Gair of Mitchells Chartered Accountants (Finance) supported Impress.