Communisis has bought Orchestra Bristol out of administration in a 2.25m pre-pack deal.
Grant Thornton was appointed to the cross-media specialist, as well as its sister company Orchestra Wotton, and their non-trading parent company Orchestra Group this afternoon (14 June).
Communisis, which completed the deal for Orchestra Bristol at around 3.30pm today, will make an initial £1.34m payment, with the remaining £910,000 paid 90 days after completion.
Communisis chief executive Andy Blundell told PrintWeek today that he was very pleased to complete the deal, which will see the £10m-turnover company's 122 staff move to Communisis.
The key element of the investment is a four-year deal with BBC contractor Proximity London for the provision of TV Licences. The £4.5m-per-annum contract will be novated to Communisis as part of the purchase.
Communisis chief executive Andy Blundell said: "I am very pleased to have been entrusted with the contract for TV licensing, which by its mission-critical nature plays to Communisis’s strengths as the leading provider in our sector.
"I am also excited to be working in partnership with Proximity and look forward to working closely with them; both companies recognise the power of data analytics and consequent targeted communication.
"Today’s developments underline our strategic intent at Communisis to focus increasingly on specialist activity and in supporting clients’ critical customer communications. Our existing activities and expertise, and the investments we have made in data, and in higher-end colour personalisation provide us with a substantial advantage in this market space."
Proximity London chief executive Mike Dodds added: "We believe that Communisis provides a market-leading offer and, as such, is an ideal partner for Proximity. In particular, we have been impressed with Communisis’ plans for managing the TV Licensing contract and firmly believe that the team’s expertise will enhance the effective collection of the TV Licence over the life of the contract."
The £10m-turnover litho site Orchestra Wooton, also in administration with Grant Thornton, was closed with immediate effect as as no buyer could be found, all 68 employees were made redundant.