Magnet Harlequin acquires Technik
Monday, March 18, 2013
Creative and packaging management firm Magnet Harlequin has acquired pre-press specialists Technik for an unspecified sum.
Friday’s (15 March) acquisition will allow Magnet Harlequin, part of the Writtle Group, to "sensibly grow" according to managing director, Alan Wright, who is aiming for a combined rise in turnover from £14m to £20m. He told PrintWeek he was positive about the future and Britain’s creative industries.
The combined business will offer a wide range of pre-press and repro services, including video and CGI. Technik's group partner and litho outfit Connekt Colour, was not included as it was previously sold.
The company will continue to trade under both the Magnet Harlequin and Technik brands and from their existing locations, in the UK, China and India.
Magnet Harlequin managing director, Alan Wright, who led a five-strong management buyout of the Uxbridge-based firm in 2002, will now become MD of both companies.
The "harmonious" deal has been discussed over several months and was sparked by "a chance chat" between Wright and Technik founder and managing director, Terry Walker, last summer.
Wright said they had both been "in the business forever" but "had never clashed" and said Technik, which has sites in Hertfordshire and Yorkshire was an "exceptionally high-performing company and highly respected name".
There are no plans for staff changes or cuts but Walker will retire as part of the deal after 37 years at the company’s helm. He will stay on until the transitional phase of the merger is complete, probably in a few months.
Walker said: "Magnet Harlequin’s track record, technology and resources would obviously be attractive to our clients but equally important to me was its reputation for integrity and employee welfare, a philosophy I have shared throughout my working life."
Magnet Harlequin was named Pre-press Company of the Year at the PrintWeek Awards in 2009, while Technik was shortlisted in 2010.
Wright said Walker had made "an immense contribution to the industry".