Geoff Rowley and Jason Baker at insolvency practitioner FRP Advisory were appointed to the business on 14 October and sold to CFH in a pre-pack deal.

According to CFH managing director Dave Broadway, the deal, which sees 41 employees TUPE across, will strengthen CFH's presence in Scotland.

He told PrintWeek: "It is nice to have the opportunity to keep a good business going. Both of us have strong IT behind us and we will be aiming to combine our strengths."

Broadway added the exact fit of the business had not been decided, but at this stage the FST name would continue, as would its facility, which houses Xerox and Buhrs equipment.

The company also had an Océ Jetstream, bought as part of a £2m spend in 2010, which has not been acquired as part of the deal.

Broadway said: "We will be talking to Océ to see what can be done there. It wasn't owned, but we need to understand the machine. Certainly we are open for talks."

FST had a turnover of around £4m, but Broadway said that he was unsure how the business would affect CFH's £28m turnover when its 2011/12 results are revealed next March. The company now employs around 240 staff.

In February this year FST lost a major contract with Sky, which Rowley said ultimately led to the demise of the business. "The company’s revenues were too low to offset its increase in overheads and it found itself in financial difficulty," he said.