In a deal completed on 15 August, Precision Colour Printing (PCP) parent Claverley took on the £11.7m-turnover creative and print management agency to expand its media and communications portfolio, which also includes Express & Star publisher MNA.
Claverley chief executive Phil Inman said he was attracted by Cubiquity’s clientele of “national and global brands”, including EasyJet and Taylor Wimpey, and said he was “delighted” to confirm the deal.
A Claverley spokesperson elaborated: “It was quickly established that there were mutual benefits to the deal, with Claverley acquiring a business which is growing in its sector and Cubiquity benefitting from the heritage and reach of the Claverley businesses.
“Claverley has a successful heritage in news and information dating back more than a century. Cubiquity can be part of the group’s future by bringing new services to an established media organisation.
“We believe this acquisition forms the basis of a positive future for Cubiquity’s clients and provides opportunities for further growth through working together. We are working with the management to shape their plans for 2019 and beyond. We won’t be setting targets publicly but we believe there is a great opportunity for growth.”
It was confirmed that the new acquisition’s management team would remain in place. Directors Kevin Rowland and Shane Inger will now serve as joint chief executives of the subsidiary, with Paul Hugkulstone as group managing director.
Cubiquity is set to remain at its base in Whyteleafe, Surrey, from which it provides a combination of design and print management services. Inger spoke highly of the business benefits the Claverley acquisition would bring to clients.
“The Claverley Group investment has provided us with the opportunity to flex our integrated design, print and digital services even more effectively around our clients’ needs, helping them to better engage and inspire their own audiences, now and in the future,” he said.
According to its 2017 accounts, Cubiquity generated a pre-tax profit of £1.3m on sales of £11.7m. It employs more than 45 members of staff.
Claverley Group comprises MNA, PCP, publishing software company Press Computer Systems, newspaper publisher Guiton Group and, now, Cubiquity. It also took an 80% shareholding of children’s magazine publisher Kennedy Enterprises in April, with a view to acquire the rest within 12 months.