The £36m-turnover web offset and sheetfed printing business was put up for sale by the Claverley Group in March.
PCP’s new owner is Hypax, an independent investment firm with operations in Berlin and London.
Hypax was formed last year and specialises in taking over middle market businesses with sales of at least €15m (£12.8m), and where the business is not currently performing to its full potential but has the potential to improve and grow.
The managing partners are Christian Schmehl and Philipp Sterkel, who both previously worked in private equity at a number of companies, including Aurelius.
PCP is Hypax’s first printing industry buy.
In a statement, Telford-based PCP said: “Hypax see a significant opportunity for growth in PCP, through strategic initiatives and continued operational excellence.
“Hypax will also look to take advantage of further acquisition opportunities to strengthen PCP’s position in the current competitive market.”
PCP managing director Nick Evans commented: “Under the new ownership PCP will continue to deliver the quality and service to which our customers are accustomed while investing in the future of the business.”
The printer will maintain a relationship with its former owners as a new long-term contract has been agreed with Claverley’s Kennedy Publishing business as part of the deal.
PCP posted sales of £36m in calendar year 2022 and reduced its EBITDA loss from just over £1m to £393,073. The business employs around 220 staff.
The firm runs 24/7 printing for customers including publishers, brands and holiday companies, with a product range that includes magazines, brochures and catalogues along with in-house mailing and fulfilment. It also offers large-format digital printing.
The terms of the deal were not disclosed.
On its website, Hypax Partners states that the business has successfully delivered numerous corporate carve-outs, turnarounds and comprehensive business transformations, with “deep expertise in complex situations where flexibility, pragmatism, speed and reliability are key”.
Hypax is already connected to Telford via a number of businesses based at the Hadley Castle Works near the town, including Autostructures UK and wheel manufacturer Moveero.
PCP operates from a 14 acre site and runs three web presses: a 32pp Manroland Rotoman, plus 32pp and 16pp Komori System 38 models, along with nine- and ten-unit B1 sheetfed perfecting presses from RMGT and Heidelberg.
It also has a wide range of in-house post-press kit in its bindery including stitching and perfect binding.
