Cyrus Norton and his partner Ray started the Digital Factory, a large format printers, in 1998 literally from a garage. They quickly established themselves in their key sector of exhibitions and conference work. Today the business turns over around £1million annually across a wide spectrum of large format products. They expanded in 2016 to a custom built factory in Farnborough, investing £1.7 million into new machinery and software. Some of their clients include Chineham Business Park, Leicester City F.C. and School Corridor Studios.
Ray decided to leave the business. Cyrus explains “The most important thing was that we both came away from the deal happy with the outcome. I wanted Ray to get the right price for his shares but I needed to maintain cash-flow or I wouldn’t be able to stay in business; it’s a cash-hungry operation especially when you are investing in up-to-date digital technology.”
Working closely with Sharmini, Ray and Cyrus were able to structure a deal whereby Ray was paid out over time enabling him to retain the beneficial 10% Capital Gains Tax rate for the sale of his shares.
Deals like this sometimes become acrimonious even after a successful working relationship. So, the last thing either Cyrus or Ray wanted was any animosity between them; and with the help of Sharmini they achieved the perfect outcome and are still friends today. When asked what he valued most about his relationship with Wise & Co, Cyrus answered “Being on my own now, I really value being able to run key decision past Sharmini, knowing that she’ll quickly assess the potential financial impact, as well as giving me a ‘common sense’ audit! I feel in very safe hands overall and well equipped to face the future.”