It is the second investment the company has received in the last 10 months. The Hughes family, which formed Mail Marketing – the company that merged with Formpro to create Formpro MM – put £2.75m into the business in December last year.
The Barclays investment was finalised on 25 September. Mike Hughes remains a shareholder and non-executive director at the company.
According to Formpro, the investment will be used to improve its digital print, print management, postal solutions, polywrapping, fulfilment, data preparation and enhancement, laser and enclosing, and high-quality complex mailing solutions.
It also said it will be looking to develop into new areas.
Formpro has had a turnaround year in 2008 following a tumultuous 2007. The company lost several managers and struggled to find investment to keep it going before the Hughes family stepped in late in the year.
This year, the £20m turnover company, which employs 280 staff, has been rebuilding its reputation within the industry.
For more see this week's PrintWeek magazine.
Barclays Ventures becomes shareholder at Formpro MM
Bristol mailing house Formpro MM has taken on Barclays Ventures as a shareholder following a multi-million pound investment from the private equity arm of the high street bank.
