On 17 October, recovery and insolvency firm BM Advisory was called in to the Loughborough-based commercial print firm, which had traded as Automedia for more than 40 years, after the firm suffered a period of poor sales, exacerbated by the loss of a major client.
The family-run business was established in 1977, originally as a merchandising company, and evolved into a litho and and digital printer, carrying out the majority of its print finishing in-house.
According to Automedia's website the business ran a combination of Heidelberg and Xerox presses, with finishing kit including folding and die-cutting equipment.
Joint administrators Andrew Pear and Michael Solomons put the business up for sale on 22 October, after exploring all other options, and received two offers as a result of the marketing campaign.
According to a statement put out by BM Advisory, the decision was taken to place the company into administration on 6 November due to a seasonal sales decline “fast approaching” and Jump closed the sale shortly afterwards. The business has taken on one member of Automedia's 10 staff, according to Jump founder and chief executive Tony Napodano.
The sale does not include the plant and machinery, office equipment or company vehicle, all of which are set to be marketed in an online auction, the viewing date for which is 26 November.
Pears said: "Whilst there was significant interest shown during the accelerated marketing period, there were no offers for the business as a going concern. Our main objective was to achieve a better result for the creditors as a whole, and this was accomplished through the conclusion of the sale in short order of the company's goodwill, work in progress, order book and a motor vehicle."
Napodano said: "Automedia's location and the fact they do a lot of work directly for clients rather than agency fitted in really well with what we do. From a strategic position, it just made sense for us and it was the right time for them."
16-staff Jump Design and Print was set up by Napodano nine years ago and positions itself as a print procurement specialist for litho and digital work, exhibition banners, digital campaigns and design. The business turns over just under £2.5m a year.
The deal with Automedia is the second in recent weeks for acquisitive Jump after the company also took on Glastonbury-based litho and digital printer Walton Press, in October. Jump took on three of the circa-£500,000 turnover firm's staff.
Jump initially began to expand at the start of the year with the launch of Jump North in Sheffield, which was set up when Evolution Print went into administration in April and Napodano approached the firm's director Graham Congreve.
Napodano said: "It's the way forward at the moment I think. It's a crazy industry we're in, people are beating each other up for the little work and I think really, it's about consolidation and collaboration.
"What we saw happen five plus years ago in web offset needs to happen in the sheetfed market, so that prices stabilise and we move back to a more buoyant period in printing.
"So our strategy is to be acquisitive and looking for opportunities where businesses are for sale, that have fallen into administration or business owners are looking to retire from the industry."
