CSM Live has also taken on a short-term licence to occupy the site while it decides how to integrate the equipment into its existing setup.

The firm is headquartered in Sidcup which is also the location of its main production site.

In a statement, chief executive Alastair Bewick said the sale showed CSM’s confidence in the future.

“The last month has been a difficult time for many people related to the Service Graphics business and a lot of former clients have also been left in a position of uncertainty. Following the asset purchase, we are clearly now well placed to provide support where we can,” he said.

“Overall, this investment demonstrates our own confidence in the industry, and provides greater capacity to support our clients as we look forward to one our busiest years ever.”

The equipment purchased includes a range of wide-format printing, laminating and finishing kit at what had been Service Graphics’ biggest production site. It includes one five-metre wide Durst printer and two four-metre wide models as well as multiple Zund cutting tables.

Joint administrator Allan Graham of Duff & Phelps said: “While it’s regrettable that a complete sale of the site wasn’t achieved, we’re pleased to have achieved a sale of these assets”.

PrintWeek understands that CSM Live has also taken on some former Service Graphics employees in sales and client services roles.

The firm has handled branding for major events such as the Olympic and Paralympic games, and Rugby World Cup and works with brands including HSBC and Lidl on experiential activities and live events.

It is part of the £89m turnover CSM Sport & Entertainment business, which is owned by marketing agency Chime Group.

Service Graphics went into administration last month. The Service Graphics name and the trade and assets at its Skelmersdale and Glasgow sites were acquired by Paragon Group.