Kienzler, who was managing director at the Southend-on-Sea company, officially retires next month.

The duo became co-owners of the £2m turnover business in 2003. Wilce, the firm’s sales director, has now bought out Kienzler’s stake.

The deal becomes effective on 1 August.

Wilce will retain his sales responsibilities while taking a broader management brief. “We’ve got a really good management team here and we will manage it between the four of us,” he said.

Formara employs 30 staff and specialises in fast turnaround short-to-medium-run work.

Wilce said he aimed to put a “Phil Wilce stamp” on the business, which operates under the Formara and Print4London brands. A rebrand of its offering is planned for later in the year.

“This is a cutting edge business, but it doesn’t necessarily portray itself that way. We’ve done a lot of work on the rebrand already and it’s looking good,” he explained. “I’m very excited for the future.”

His plans include expanding the firm’s already enviable client roster. Formara has a loyal customer based with many using the company for more than 20 years.

“Once customers use us they stay with us. Retaining them is vital, it’s all about service and I will be beating the service drum to death,” he added.

The company runs a range of litho and digital kit, including Shinohara and Ryobi presses, two Océ Varioprint 6160s and a Canon ImagePress 6010. Its comprehensive in-house finishing setup includes a Horizon Stitchliner.

Wilce said it had built up considerable expertise in variable data printing for personalised mailings

Kienzler is relocating to Portugal next month after 43 years in the industry. He said: “I actually don’t think I’ll miss print, but I’ll definitely miss the people. I’ve done my time, it’s time to let the younger heads move in.”

Formara was founded in 1971. Wilce joined in 1990, and Kienzler in 1999.