Swedish group buys Morgana

Morgana Systems has been bought by Swedish firm Plockmatic International.

The deal, which was sealed on Thursday (31 January), will see the group headed by Plockmatic’s chief executive Jan Marstorp, with Quen Baum retaining his role as managing director of Morgana.

Morgana will retain its Milton Keynes offices under the new structure.

Plockmatic, which describes itself as "the premier document finishing partner for the print market worldwide" on its website, manufactures online booklet makers and mail feeding systems. It is part of Grimaldi Industri Group, the holding company of a number of international manufacturing businesses.

Baum said: "Plockmatic saw Morgana as the perfect partner to complement what they do – they are specialists in online bookletmakers, whereas we complete the portfolio with our offline bookletmakers.

"Putting the two together makes us even stronger in the market and will better serve our customers and staff."

Plockmatic bought 100% of Morgana’s shares, which will see the £15m UK business sharing technology developments, manufacturing and distribution channels with its new owner.

Baum added: "We are not a basket case that desperately needed attention. 2011 was our best year in 35 years of trading and 2012 looks to be even better than that.

"I am relaxed and look forward to the next chapter. It is not about money, it is about running a good business and looking after our staff and customers and making a profit."

Plockmatic’s Marstorp, who Baum described as an "absolute gentleman", added: "For a long time we’ve had enormous respect for Morgana’s people and its products. Together, these two innovative companies add value to the printed page as part of the communications mix."

Grimaldi Industri Group owner and chief executive Salvatore Grimaldi said: "The acquisition of Morgana gives us access to the product development, technology and distribution capabilities we need to reach more customers all over the world.

"I’m delighted to welcome Morgana to our group of companies."

Baum said that the final structure of the deal was still to be decided but did not rule out a merger with Plockmatic at some point in the future.

"Who knows what the future holds?" he said.