Printco and sister companies are 'ring-fenced'

Owners move to reassure Ancient House stakeholders

RDCP's Sameer Rizvi with co-founder Iryna Dubylovska
Rizvi with Dubylovska: "On occasion, when we go through a corporate governance exercise, we will look to shut down certain entities"

The owners of Ancient House Printing Group have moved to reassure suppliers and customers that the business will not be affected by a winding up petition filed against its former holding company, amid changes to the investment group’s structure.

RDCP Group acquired Ancient House in the summer of 2021 and the Ipswich web and sheetfed printer’s results have improved since – in the year to 28 February 2023 sales were up by nearly 27% to £16.32m, and operating profit margins increased slightly to 5.78%.

The investment company owns a diverse range of businesses and has ambitions to be the UK’s biggest privately owned business.

In filings that have just reached Companies House, RDCP Investments 18 Ltd has replaced RDCP Group Ltd as the Ancient House topco on 25 January 2024.

RDCP Group Ltd changed its name to IAHP Group Holdings on 2 February.

In a separate filing that reached Companies House on 2 February it emerged that RDCP co-founders Sameer Rizvi and Iryna Dubylovska resigned as directors of RDCP Group Ltd more than a year ago – on 15 January 2023.

On 2 February 2024 a winding up petition against IAHP Group Holdings Ltd was filed at the High Court of Justice Business & Property Court by finance company Theodore Management.

Rizvi has issued a note to Ancient House stakeholders, which states: “RDCP Group LLP and its shareholders Sameer Rizvi and Iryna Dubylovska are involved with and control several companies in the UK, in a number of diverse and unrelated sectors.

“Additionally, many of these companies are non-trading holding companies or non-trading SPVs with no assets, no bank accounts, and no employees.

“On occasion, when we go through a corporate governance exercise, we will look to shut down certain entities. In 2023 and 2024, we have gone through an exercise, whereby all our companies are now sister companies held in ring-fenced SPVs and not related to each other in any way via a group structure.”

He said that in 2024 the group would be shutting down “a few unused or dormant SPVs, one of which is IAHP Group Holdings Ltd”.

“Finally, please note that Ancient House Press and all other RDCP trading companies have nothing to do with IAHP Group Holdings Ltd.”

RD Capital Partners LLP changed its name to RDCP Group LLP on 7 February.