H&H Reeds buys local rival Print Graphic
Thursday, January 10, 2019
H&H Reeds Printers has acquired Print Graphic to consolidate its position in the Cumbrian print market.
In a deal finalised on 14 December, Carlisle-based Print Graphic came under the ownership of Penrith's H&H Reeds, itself a subsidiary of the wider H&H Group. All manufacturing has been transferred to the Penrith facility, while the Carlisle site will become a creative hub and customer services centre.
Print Graphic owner Simon Rees was first approached by H&H Reeds managing director Andy Jackson six months prior to the deal’s completion. Rees will stay on as commercial director of the combined entity, which now employs around 50 workers.
Jackson said: “We have been competitors and joint admirers for a long time with similar attitudes and similar customer bases in the B2B sector.
“Due to changes in the market, I went in for a sit-down with Simon and suggested that we would be better served as part of the same company as I did not think we could continue to operate in the same area separately.
“These things only succeed if they work on a personal level and luckily myself and Simon have similar mindsets about being open-minded and keen to look for opportunities to move our business forward. I am very excited for us to work together.”
With all manufacturing operations moving to Penrith, all Print Graphic equipment has been relocated from Carlisle with the exception of some leased kit that has been returned. The company will provide a variety of services including digital, litho and wide-format print ranging from brochures to signage for the professional services sector.
It will trade as H&H Reeds, Print & Graphic Solutions as part of a branding “refresh” that is currently underway, according to Jackson. Print Graphic will reportedly add 20% to H&H Reeds’ turnover – bringing its total sales to approximately £3.5m.
Jackson said the new merged firm’s focus will not be on one-off print jobs, but rather “strong customer relationships backed by hand-holding, professional advice and quality projects – the full service”.
The deal is the first acquisition in the H&H Group since the appointment of new chief executive Richard Rankin, who joined in July 2018 after a 15-year stint in corporate finance at Armstrong Watson.