Pictured above: (l-r) City businessman Jon Bakewell and Geldards associate Chris Faulkner are joined by Yorkshire Bank's Graham Harper and Paul Elliott at Librex Educational Limited in Colwick

Nottingham-based group JB Holdings Limited is expanding after completing a six-figure deal to buy a Colwick firm.

City businessman Jon Bakewell said the acquistion of Librex Educational Limited was made possible thanks to the support of Yorkshire Bank's Nottingham Financial Solutions Centre and the Nottingham office of law firm Geldards and comes on the back of JB Holdings enjoying a 30-year relationship with Librex. 

Established in 1949, Librex supplies general office equipment to schools, libraries, universities and hospitals and employs 26 staff at its Colwick Road headquarters and has been sold by Margaret and Allan Wright. 

Mr Bakewell said he was delighted to add Librex to the JB Holdings portfolio having enjoyed a strong relationship with the company through his printing company John Browns based in Bilborough, Nottingham. 

He said: "I'm always looking to invest in locally based businesses which complement our portfolio and Librex fits the bill perfectly.

"The company has built a strong reputation over the past 60 years under the leadership of Margaret and Allan Wright.

"I knew the quality of the business as we have been their supplier of catalogues for over 30 years through our printing company John Browns and I could see that there was a natural synergy between the two businesses, so it made complete sense to adopt Librex into our group. 

"There are many products which John Browns already produce which will sit comfortably among the growing number of lines which Librex supply and we will also be looking to rapidly expand on the number of products that they currently provide, offering more choice to customers through the completely rebuilt website.

"I am really pleased with the support we received from Yorkshire Bank and Geldards in helping structure this deal and I'm looking forward to building on the success Librex has enjoyed over the last three decades. I'm also grateful for the great job which Jonathan Salt of RSM Tenon did in bringing all the parties together to make the deal happen."

Paul Elliott, business banking partner at Yorkshire Bank's Nottingham FSC on Castle Meadow Road, said he was delighted the bank had been able to play a part in supporting JB Holdings through its recently launched 'Investing for Growth' initiative. 

"Jon Bakewell has worked extremely hard to build up his JB Holdings company and when he spotted an opportunity to add Librex to the group's portfolio the bank was delighted to help fund the buy-out," he said. 

"The bank is keen to play our part in helping local businesses achieve successful growth and in addition to pledging £10 billion of gross new lending by October next year our Investing for Growth initiative has been launched to help successful businesses grow and develop.

"The deal was also made easier by Jon working with Chris Faulkner, associate at Geldards, who has a great understanding of every aspect of the JB Holdings business."