PSG moves into finishing with Pakfin Logistics buy

Mail order and distribution company Prestige Services Group (PSG) has moved into the finishing sector after acquiring Pakfin Logistics for an undisclosed sum.

Essex-based Pakfin Logistics has worked with PSG for the past 11 years, providing high-volume finishing services for printers and publishers. It will be renamed Prestige Fulfilment Services after the buyout.

Ian Kidner, chief executive of East Sussex-based PSG, said the partnership will offer customers a broader range of services.

"We have been aiming to reduce costs from the supply chain and, as Pakfin will carry out finishing work while we do fulfilment and distribution, we can achieve just that. It makes sense to have it all under one house," he said.

"Our plans now are to take advantage of opportunities in the periodical sector."

PSG has 10 staff and a £500,000 turnover, while Pakfin has 70 staff and a turnover of £2.2m.