Wyndeham Press has paid 15.6m for Print Direct, a 70-staff 11.4m-turnover direct mail printer based in Stockport.
Wyndeham chief executive Bryan Bedson said Print Direct was "positioned at the leading edge of its sector". The deal comes weeks after Bedson hinted at a direct mail buy (PrintWeek, 9 June).
Print Direct joins Aquaprint in Wyndehams commercial division. The firm made a 1.9m pre-tax profit last year, and specialises in direct mail for blue-chip catalogue producers.
Managing director Gary Lasham, production director Alan Hodgson and finance director Chris Haresnape remain with Print Direct after signing two-year service contracts.
Lasham bought the firm with backing from 3i on New Years Eve 1997. "We had a superb couple of years with 3i," he said.
Print Direct has five narrow-width web presses - three from Goebel and two Taiyos.
Wyndeham chairman John Jackson told the groups AGM that performance in the first quarter of this financial year was ahead of last year, and that revenues and margins were in line with expectations.
Story by Gordon Carson
Have your say in the Printweek Poll
Related stories
Latest comments
"Thank you for the opportunity to comment on this Jo, and PrintWeek!
Please feel free to get in touch with the Howden Print Team to arrange your own Free of Charge Cyber Micro-Penetration Test to help..."
"I never quite understand the statements such as "achieved such a positive outcome for this well-established business".
The established business unfortunately failed and no longer exists, a..."
"Genuinely sorry to read this."
Up next...

Protocols being strengthened
Software Circle hit by suspected payment fraud

'Precision and reliability'
EBB sets up new publishing wing

Continued investment
Bakers ups BakPac capacity with double Galaxy Packtech install

"Committed to building a stronger Stora Enso"