Whether this is further evidence of confidence returning to the sector, or perhaps just a pressure valve type release of a backlog of deals that have been on the cards for a while is unclear, but most likely it’s a combination of both.

Distressed deals are still happening of course – as evidenced by the current situation at Global MP, which, at the time of writing, may or may not be poised for a pre-pack administration sale – largely because the industry is still going though a period of structural change.

But the fact that the print sector seems to be mirroring the broader trend of M&A activity being at it’s highest level since before the financial crisis has got to be a positive sign that the prolonged period of pain that has presumably stifled a fair few deals in recent years is perhaps coming to an end.

And when it comes to M&A activity, especially MBO-based deals, timing is critical.

There’s no doubt that buying a business can be risky under any circumstances, so the fact that an increasing number of companies and individuals are willing to take the gamble has to be a sign that confidence is on the up.

Of course, in an ideal world every deal would be a solvent sale, but sadly we don’t live in an ideal world – but a world without phoenix companies would be start.