The deal for the 3m-turnover firm, for an undisclosed sum, closed on 3 May.

"We're very excited about the future. Abbey is a progressive company that has not been shy in investing  we intend to continue this to keep it at the forefront of the market," said Ian Lambert (pictured centre), who with David Robinson (right) heads up Charta.

The Old Woking, Surrey-based firm's battery includes a Heidelberg CD 102 and SM 74, both five-colours with coaters, as well as CTP and a raft of finishing kit.

Lambert, who will run Abbey on a day-to-day basis, is yet to finalise investment plans at the firm. "We'll give it a couple of months and see how everything runs first," he said.

Outgoing managing director and owner Richard Edmonds (pictured left) sold the firm to pursue property investment. He will act as a consultant for Abbey for six months.

"Having built the firm I feel that it needs some new direction," said Edmonds.

Following the purchase acquisitive Charta is now a 4m turnover group that also includes Charta Laminating and another recent buy Capital Print Finishing.

All parties involved stated that the rumours that the former owners of the Karran Group were involved in the Abbey deal "were completely untrue".

Story by Darryl Danielli