The Telford web offset and sheetfed printing business is owned by the Claverley Group, which has reshaped through a number of disposals and acquisitions in recent years.
Last autumn it sold its Midland News Association and Press Computer Systems businesses to National World, which resulted in speculation that PCP could also be sold.
Today (22 March) Claverley Group has confirmed that it is exploring the possibility of selling PCP, which had sales of £36m in 2022 and reduced its EBITDA loss from just over £1m to £393,073. The firm employs around 220 staff.
PCP issued a statement, which said: “BDO is managing the sale process, with offers invited for the business as a going concern.
“Offers have already been received and are being considered.”
PCP managing director Nick Evans briefed staff, customers and suppliers earlier this week.
In a letter to customers, Evans said: “Following the sale of the Midlands News Association (MNA) last year, the Claverley board has decided that manufacturing does not form part of their longer-term strategic plans. With PCP’s performance improving following covid-19 and the energy crisis, now is the right time to seek new investors.
“PCP retains The Claverley Group's support and continues to value its employees, uphold strong quality and customer service standards, whilst treating and paying suppliers in the manner to which they are accustomed.”
He said that in the meantime, it was “very much business as usual”.
PCP operates from a 14 acre site and runs three web presses: a 32pp Manroland Rotoman, plus 32pp and 16pp Komori System 38 models, along with nine- and ten-unit B1 sheetfed perfecting presses from RMGT and Heidelberg. It has a wide range of in-house post-press kit in its bindery including stitching and perfect binding.
The firm runs 24/7 and its product range includes magazines, brochures and catalogues along with in-house mailing and fulfilment.
It also offers large-format digital printing.
Customers include publishers – including Printweek owner Mark Allen Group – as well as holiday companies and brands.
Pre-pandemic the business had sales of £40.3m and made an operating profit of nearly £1m.
Last year PCP invested to improve product workflows and energy efficiency, and also made structural changes to reduce its cost base.
