Administrator Begbies Traynor was appointed to the company on the 25 March and Poole-based Druckfarben bought the supplier on 7 April.

Druckfarben already supplies printing inks, varnishes, chemicals and consumables, and has bought certain assets in addition to IP, stock and the Shackell Edwards name.  

Grant Penfield became managing director at Shackell Edwards after buying equity in the company in March 2008.

Penfield is also managing director of Druckfarben although the two companies are run as separate entities.

Penfield said: "It is now business as usual for Shackell Edwards customers since Druckfarben is able to continue to supply its branded products uninterrupted."

He added that he now intends to invest in the industry during the downturn and is looking for further acquisitions.

Shackell Edwards is one of Britain's oldest ink manufacturers and was established in 1786.

Penfield's history includes forming Stehlin Hostag UK in 1983. In 2001, it sold a majority stake to Huber Group.