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Johnsons Photopia management buy out - Johnsons Photopia, the distributors of photography brands such as Mamiya, Lastolite and Sekonic, have new owners.
Steve Kirkham, David Harper and Tim Harrison have joined together to buy the Johnsons Photopia business from previous owner David Vaughan. Johnsons Photopia is one of the oldest names in the photographic world. Founded in 1743, by Richard Wight, the business has grown from its roots as a goldsmith through chemist to photographic distributor. The company is now also highly successful in service and refurbishment, offering solutions for the photographic and electronic industry.
David Vaughan’s statement
In 1981 I was part of the management team which took on the Johnsons company in a management buyout, subsequently becoming the 100% shareholder.
Now it is the turn of my colleagues to buy me out [in their own deal] giving me the ideal opportunity and timing to retire. This company has been my life for the 31 years I have worked here, the industry having gone through a number of fundamental changes in that time.
The new owners of the company are Steve Kirkham (Managing Director), David Harper (Operations Director) and Tim Harrison (Finance Director) all of whom have been effectively running the business in recent times. They have 40 years of service at JP between them and I am confident that, under their continued ownership and management, this deal is exactly right for all concerned and the company will continue to flourish and grow to the benefit of employees, suppliers and customers in all the sectors in which it operates.
I have made many good friends over the years and take this opportunity to thank them for their support and friendship hoping I will be seeing a number of you at Photokina in September.
Contact details for David Vaughan;
Telephone: 07970 121416
Email : firstname.lastname@example.org
Management Team’s statement
The Management Team is delighted that David Vaughan has offered us the opportunity to acquire the company from him and that our bank (LloydsTSB) has supported us in achieving this goal. More importantly we are delighted that we have been able to find a way to allow David to retire when it suited him. David as everyone knows has been an integral part of this business and has been instrumental in supporting and guiding it throughout turbulent times in the industry.
The Management Team has been entrusted to run the business for David over the last few years and this has allowed us to gain the experience that will ensure the transition in ownership will be seamless. The Management Team are totally committed to the long term future success of the business in line with our strategy and are convinced that there are many opportunities to build on the current success which will further increase the company’s strength for the benefit of employees, customers and suppliers alike.
Finally we’d like to wish David a happy and well earned retirement and success in all he does. We’re sure that David will still continue to stay in touch and be interested in the progression of the company.
Contact details for Steve Kirkham:
Telephone: 01782 753356 or 07968 119553