Andrew Sheridan and Guy Mander of insolvency practitioner Baker Tilly Restructuring and Recovery were appointed as administrators of the company on 4 February.
The business and assets were sold to DWJ Colourprint on the same day, with 18 employees moving to the new business.
DWJ Colourprint's directors are Simon Toft, Graham Jones, Marcus Toft and Andrew Forrest. Simon and Marcus Toft and Graham Jones were all directors at DW Jones.
The sole shareholder of DW Jones was Imex Group; however no shareholders have as yet been added to DWJ Colourprint, which was formed on 15 December.
Sheridan said: "DW Jones had suffered a reduction in trade as a result of the recession and was not able to service the quantum of its bank debt. It is a great result we have had such a favourable solution in which the business and all jobs could be saved."
He added that DW Jones' directors had been trying to sell the business since November 2010, without success.
Simon Toft told PrintWeek that the business was profitable.
He said: "It is pleasing, given the long history of this family business founded back in 1897, that we have had such a positive solution in which both the profitable printing business and the jobs of all its 18 employees were saved.
"We were fortunate that, even in this difficult climate, the business plan had the backing of major institutions and we were able to raise the finance to support the deal. This was a crucial endorsement of the business's sustainability going forward. We also worked very closely with the company's key suppliers prior to the deal; they were made aware of the proposed sale and were supportive of it."
