More buys for PFI
Friday, October 1, 2021
Acquisitive PFI Group has acquired Cestrian Imaging as part of its ongoing expansion drive.
Cheadle-based Cestrian had sales of £9.8m in its most recent results, for the year ending 31 March 2020. The business made an operating loss of just under £200,000.
It runs a raft of wide- and small-format digital printing and finishing kit including EFI, Inca, Durst, HP, Xerox, Esko and Fotoba devices.
PFI Group has acquired the out-of-home, retail and events specialist from Austrian firm Arian Group.
Darren McMurray, PFI Group CEO said he was delighted to welcome Cestrian Imaging and its team to the PFI family.
“There is a clear alignment between Cestrian and PFI, and the acquisition supports the businesses growth objectives. The acquisition of Cestrian Imaging is another significant milestone in the group’s buy and build strategy, and further cements our leadership position within the sign and print industries.”
At the end of August, Manchester-headquartered PFI also acquired the assets and goodwill of Aberdeen-based Jasmine in a pre-pack deal via its Lofthus Signs business.
Jasmine, which had sales of £3.6m in 2019, had been loss-making for several years, and the Covid-19 pandemic resulted in sales slumping by around 60% at its worst. The firm’s services include commercial printing, sign and display, and design.
The deal secured 22 jobs.
Jasmine director Danny Cowie commented: “This has been a great outcome for us. We have a good underlying business with a loyal workforce. We are very happy that everyone’s jobs could be secured and that production looks likely to remain in Aberdeen.”
McMurray added: “It is a pleasure to welcome the Jasmine team to the PFI family and to be able to turn the difficult situation they faced to a positive outcome.”
The PFI Group comprises PFI Signs, GB Sign Solutions, Sign Plus, Lofthus Signs, In2 Signs & Graphics, Shades Graphics, Mardan Products, Futurama Group, Insignia Signs, Creative Display, SignMaster, Jasmine and Cestrian.
Turnover for the group had previously been forecast at around £40m for 2020/21.