Paperlinx Ireland sale finalised
Monday, June 15, 2015
Paperlinx has completed the sale of its Irish operations, which will now be renamed Graphic & Paper Merchants Ireland.
The business has been acquired by former divisional director Enda Brophy. No external investors were involved in the purchase.
The company employs 51 staff in the Republic of Ireland, and 14 in Northern Ireland.
Brophy said it would trade as GPM Sign & Display and GPM Commercial Print.
“This was a profitable and solid business until the UK went into administration,” he said.
“We will be selling pretty much the same range as in pre-crisis Paperlinx, with a few tweaks. We have to restore credit lines, and over the next few weeks will be in negotiations with all the major paper suppliers. There’s no change in the sign and display range.”
Brophy said the company had sales of around €35m (£25m) in Paperlinx’s last financial year, to 30 June 2014.
Only the German and Czech Republic businesses now remain up-for-sale of what had been Paperlinx’s A$2bn (£1bn) turnover pan-European business.