The French group, which owns CPI Bath, Cox & Wyman, Mackays and Antony Rowe, was bought in a 307m (450m) deal backed by Electra Partners and CVC Capital Partners.

Bovard co-founded the CPI group, now world's largest monochrome book printer, in 1996 when it acquired French printer Bussiere. The group now has 18 plants in the UK, France, the Netherlands, Belgium, the Czech Republic and Germany.

It first arrived in the UK in August 1999 buying paperback specialist Cox & Wyman from Rexam. A month later it bought LIBERfabrica, parent of Bath Press, Redwood Books and Bookcraft. It then acquired Mackays of Chatham in 2000 and in January this year it bought Chippenham-based Antony Rowe Group.

CPI director of development Rolfe Swinton said the backing of Electra and CVC would give the group the "means to move up to the next level". "CPI is the world's largest manufacturer of monochrome books and the goal is to be definitively the best," he said.

The group would be using the funds provided by its backers, who are both investing an equal share in the business, to expand its service offering and its geographic reach. "We will continue to expand in Europe, there's no question about that," said Swinton, who added that Southern and Eastern Europe were areas of particular interest.

Swinton also underlined the group's commitment to the UK and to the Bath Press plant in particular, which he said had been "meeting and exceeding its budgets for the last few months".

Plans were in place for investment in the UK and new UK managing director Kevin Kelley would be running the businesses here as a "true group", added Swinton. Kelley was previously with Quebecor and joined the group earlier this summer. 

Story by Lauretta Roberts