The Telford web and sheetfed printing firm was sold to investment firm Hypax Partners just over a year ago as part of a widespread reshaping at former parent group Claverley.
Hypax associate Stewart Hussey became chairman and a director of PCP at that time, and also took a minority stake.
Hussey has now increased his shareholding, becoming the majority shareholder in PCP owner Premu Print Holdco, formerly Hypax Gamma Holdco. The deal completed in May.
Hussey comes from a finance background and has been involved with various Office Depot businesses since late 2017. He is currently listed as the managing director of Luxembourg firm Office Depot International Finance.
In a statement, PCP said Hussey had been working with the business on its ongoing strategy and continues to review and work on potential acquisitions. His increased shareholding is also being supported by an undisclosed family investment office.
Hussey commented: “Over the past year, in my role as chairman and minority shareholder, I’ve worked closely with Nick Evans [PCP managing director] and Nick Dinning [finance director] to oversee the transformation of the business since its divestment from Claverley in 2024.
“I am very pleased with the progress we’ve made, which has strengthened our position, and resulted in improved performance, significant new business wins, and a number of key investments, including the recent upgrade of our forklift trucks.”
He added: “The business is on solid ground, as reflected in our latest results. As majority shareholder, I am excited to continue working with the team to drive our ambitious strategy, focusing on growth, selective asset investments, and potential acquisitions.”
PCP said the change of ownership would make no difference to how the business trades.
Evans told Printweek: “Stewart has been our chairman and a director of PCP since Hypax came in, so we know him well. It really is business as usual.
“We’re in good shape and the plan hasn’t changed – we are still aiming to create a group of businesses that support each other and we’re currently looking at a number of potential opportunities.”
In the year to 28 December 2024 PCP posted turnover down 11.4% at just under £27.9m, but the business made a big improvement in profitability and was back in the black at the operating level, posting a £39,002 profit compared with the prior year’s £1.9m loss. PCP employed 186 at the balance sheet date.
The firm’s core services include magazine, catalogue and brochure printing alongside mailing and fulfilment. It also has a large-format digital printing wing.
Earlier this month Hypax Partners secured €120m (£102m in capital commitments for its new European Investment Development vehicle, which is understood to be the current focus of managing partners Christan Schmehl and Philipp Sterkel.
