Callprint in accelerated sale process
Tuesday, August 28, 2018
Callprint is understood to be courting buyers as a notice of intention to appoint administrators at the London-headquartered group was posted at the High Court.
Advisory firm Duff & Phelps has circulated an advertisement for the sale of an 11-site, £10.6m-turnover digital and litho print provider in documents seen by PrintWeek. This company has since been confirmed as Callprint.
As well as several sites in London, Callprint has branches across the country, including Birmingham, Liverpool, Manchester, Hertford and Bristol. It offers a wide range of services from 3D printing to stationery, signage and internal branding.
The document explains that the sale must be “executed at the earliest opportunity” due to the financial position of the company, and interested parties are required to sign non-disclosure agreements with Duff & Phelps.
It is understood that the Hobs Group is the frontrunner to purchase Callprint, although Hobs chief executive James Duckenfield declined to comment at this time. The acquisitive Paragon Group was also believed to be interested in purchasing the business.
Notices of intention to appoint administrators for Call Print Group, Call Print Services and Call Print UK were posted to the High Court Index on 23 August, with the solicitor named as London-based Weightmans, which is understood to be working with Duff & Phelps.
Duff & Phelps valued Callprint’s fixed assets at £3.1m, with circa £2.9m in debt including trade debtors, other debtors and pre-payments. Its turnover, made up to year-end 31 March 2018, is down almost £5m on the previous year when Callprint posted sales of £15.5m for the year to 31 March 2017.
However, the business for sale does not appear to include Callprint's overseas operations in Dubai, and in the US via subsidiary Link DSG.
Earlier this year, the management team at event and retail graphics wing Jupiter Visual Communications purchased that part of the business as a going concern.
Assets available for sale at Callprint include an “extensive portfolio of printing equipment”, with some subject to third-party finance. Out of its 11 premises, 10 are subject to occupational leases.
Callprint managing director Steve Cheek declined to comment.