The management team - Sarah Burns, finance director and Joanne Pearson, sales director, has bought Advantage International Corporation Limited from its previous owners in an MBO partly funded by RBS, through their company A.I.C.(H.) Co Limited.

Advantage International Corporation Ltd has 11 staff and was established in 1996. The company specialises in importing books, toys, gifts and other products for onward sale. The buyout will allow the management to continue its growth.

David Filmer, solicitor in Napthens’ Corporate department, led the legal team which advised the MBO team.

Accountants to the purchasers were Rawcliffe & Co. of Blackpool. Leeds-based Gary Caplan Solicitors advised the sellers, along with Crawford Accountants of Hampshire.

David Filmer said: “Advantage International has been a very successful business, but the time had come for the previous owners to move on.

“The management saw a great opportunity to move the business forward, and I am delighted that the MBO has now been completed.”

Sarah Burns, of A.I.C.(H.) Co Ltd, said: “The MBO was a good opportunity to grow the business, and bring in new blood to the company.

“We are pleased that we have been able to take over the business we have been involved in for some time, and look forward to a successful future."