Inked in September, the agreement has seen Screentec take on Tower Print’s four staff, printing equipment, and site in Ferndale.
The two companies had already been close, with Tower Print trade contracts a significant breadwinner for Screentec, which itself it split 50/50 between trade and consumer work.
Thomas Dean, Screentec’s MD, told Printweek the company had worked with the Pole family – Tower Print’s founders – for more than 25 years.
He added that the sale came about after the Poles heard that Screentec had been looking to grow by acquisition, as it suited their own intentions to step back from the business.
Dean said: “We’ve worked with them for a long time, so for the past few months we’ve been looking at a strategy for the directors to step back, that would suit both parties.”
Screentec will maintain Tower Print’s branding, and the company’s directors will stay on for a few months to help transfer the company’s ownership smoothly.
Screentec would benefit from an increased variety of services, Dean said, as the firm will now have direct access to Tower Print’s litho press – an area of print that Screentec had hitherto lacked.
Until now, the firm had focused on merchandising print, though with Jetrix flatbed wide-format presses, Xerox Versant digital printers, and a variety of finishing kit, had been able to offer a broad spectrum of products.
Screentec’s new strategy of growth by acquisition will, Dean said, allow it to keep expanding its offering.
“We’ve made acquisitions before, on an ad hoc basis, but now there is a formal strategy in place,” he said.
“We’ve got one or two more, which are hopefully imminent – in the next six months, I’m hoping to close an additional two acquisitions.”
Plans are in place to sell off some of the combined firm’s duplicate machinery.
Screentec now turns over more than £2m, and employs 26 including Tower Print’s staff.