STARLEATON ADMINS AIMING FOR SALE
Starleaton’s administrators are hoping to sell the business as one entity, with one due diligence by a potential buyer currently underway, and other businesses expressing interest in the wide-format supplier.
The second creditors meeting is set for 15 March, by which time the administrators from Cathro Partners hope to have sold the business, which had revenues circa $20m, and operated from facilities in virtually every capital city in the country.
Interested parties would include the two big printable materials suppliers – Ball & Doggett and Spicers – both of which are backed by giant Japanese paper conglomerates – and the national wide format consumables suppliers, who include the likes of Orafol, Spandex, Avery Dennison, Ricky Richards, HVG, Graphic Art Mart, Amari, Kissel + Wolf, and Smartech.
While Starleaton operates in a strong market – sign and display print – the supply side is ultra competitive, with many of the companies listed above backed by large multinationals, and able to achieve economies of scale not available to family-owned businesses.
Starleaton is seeing some of its 70 staff exit the business as they seek income in the current uncertain climate.
The company was founded in 1978 by Peter Eaton, and has been run by his son Ben Eaton for many years. It moved into a new national head office in Artarmon just a year ago.
It supplied a range of blue chip equipment and consumables for the wide format sector from the likes of Epson, Canon and Roland DG, 3M, Neschen, Klieverik and Coldenhove. It also supplied the Zünd range Swiss manufactured cutters.