Investec provided a £13m debt facility to managing director Mark Cornford's team to fund the MBO of Communisis' business stationery division and specialised payroll products sales unit.

Adam Turner of Investec said: "The combination of passion, in-depth industry knowledge and a first-class facility and workforce in Bath makes the business a compelling proposition.

"It will see them well-placed at the forefront of the business stationery printing market. We look forward to funding the business and a successful long-term relationship."

The asset-based lending deal provided by Investec included receivables financing, inventory financing, plant and machinery loans and acquisition finance.

Cornford said: "Following the MBO, the response from existing and new customers has been staggering. We have secured new orders across all products and a growing pipeline as a result of the announcement.

"We immediately warmed to the Investec team as like-minded professionals showing real empathy and support for the management team. They provided certainty and they delivered."

Communisis received a first cash instalment of £8.2m for the two businesses upon completion of the MBO. The remaining £4.6m is payable in instalments to 1 July 2012.