Integrity, formerly Bath Business Forms, and Economailer were acquired from Communisis in a £12.8m MBO in July 2008.

Mark Cornford, managing director of Integrity, revealed that a number of parties had expressed an interest in the £2.2m-turnover Economailer following the MBO.

He said: "Economailer has a different route to market than Integrity and we felt that this could lead to a potential conflict with our core client base.

"We also felt that Economailer did not fit with our core skills and the sale of the business allows us to concentrate 100% on our manufacturing business."

He added that Economailer would continue to be a key customer for Integrity's pressure seal and data mailer products.

Integrity has landed around £7m of new business since its MBO, according to Cornford, taking its annual turnover to a projected £59m.

"We feel in good shape, and will continue to grow the business during 2009 either through targeted investment or possible acquisition," said Cornford.