Macro Art has undergone a management buy-out, with managing director James Jennings, commercial director Michael Green and sales director Matthew Guise taking the reigns of 'one of the oldest wide-format businesses' in the UK.

Founders John and Gretchen Walker had owned the company since its inception, with the latter taking over full control following her husband's death in 2012. The business, which posted a turnover of ￡6.7m in 2013, has seen its staff double to 70 personnel since the relocation of its headquarters in 2005.

A new management team has been introduced over the last few years with the aim of expanding the business and increasing profitability and, with a healthy increase profits anticipated for this year, Walker has decided that it is the correct time to step down.

New stakeholders in the company include Mary Broadhead, investment director at YFM Equity, Nigel Luckett from NED Finance, David Sadler, chairman of Aardvark Group and Chris Gregory, founder of Orbis Partners.

"This MBO and planned capital investment will enable our business to capitalise on the positive economic outlook, expand into new areas and increase efficiency," believes Jennings. "We will invest in new equipment and employ more people to support our clients' ambitious printing demands."