The deal, for an undisclosed sum, safeguards the 25 jobs at the Canvey Island-based printer, which was placed into administrative receivership last month following “short-term” financial difficulties.
It also means that Merlin will retain its name and will be run as a separate business. “The attractive thing about this deal is the continuity,” said managing director David Marrable, who is now also a director of Bridge.
“Saving the jobs was the most important thing. There were other options for me personally, but this outweighed them,” he said.
Bridge chief executive Simon Martin said the Nottingham-based print management firm would not be using Merlin as a supplier “as we wish to maintain the independent management of our existing supply relationships”.
“We have acquired Merlin because it offers [us] access to an important new customer base and it will also become a new revenue stream for the group,” he added.
Administrative receivers Mazars Neville Russell were appointed at Merlin last month. It subsequently emerged that a man had earlier been arrested in connection with accounting practices at Merlin after the firm reported him to the police. He was released on bail without charge but the Crown Prosecution Service is investigating the case (PrintWeek, 20 July).
Marrable added that it was “a weight off my shoulders” when he decided to go ahead with the Bridge deal, but admitted he would miss working with the receivers.
“I was dreading working under the receivers, but I’m sad to see them go. They were such nice people, they used to make tea for us,” he joked.
Story by Lauretta Roberts
