C3 Imaging acquired by Zenith Print & Packaging
By Tim Sheahan Monday, 30 July 2012
C3 Imaging has been acquired by Zenith Print & Packaging and Zenith Media owner John Mooney, five months after it exited a company voluntary arrangement (CVA).
The digital print and display graphics firm has joined forces with the Wales-based Zenith businesses but will retain its identity through the acquisition.
The takeover marks a significant turnaround for C3 Imaging, which was forced to enter a CVA in February 2011 after being declared insolvent.
According to C3 Imaging managing director Nigel Davies, the group came out of the arrangement in February after "meeting its commitments in full".
"This was done with the full support of our suppliers and we are very grateful for the support they have given us," added Davies.
"After exiting the CVA, we continued to trade profitably and were then approached by John Mooney, the present owner of Zenith Media and Zenith Print & Packaging, who became aware of the business through connections in the industry."
Davies said Mooney saw C3 Imaging as "a logical fit with his Zenith businesses" and following a period of discussions, took full ownership of the group in May.
The companies are now in the process of hiring new account managers across the business ahead of a major re-equipping programme.
He said: "Since completion of the acquisition there has been significant investment of working capital and even though it has only been two months, he has already started to invest heavily across the group.
"This has included equipment from key manufacturers across the wide-format side and small format digital production side along with discussions with HP Indigo for future investment."
According to Ken Bell, managing director at Pontypridd-based Zenith Print & Packaging, the companies now "cover the whole gamut" of print production, which spans digital, wide-format and B1 and B2 format litho presses.
"We are now in a position to offer customers a broader range of services and expertise as well as an increased footprint across the UK," he added.
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