Horizon Print Finishing Equipment, headed up by Bryan Godwyn and Tony Hards, has bought the business, with 27 jobs transferring across.

The sale, which was completed late this afternoon (12 January), means the business returns to Godwyn and Hards, who sold it to Litho Supplies in 2008. The two were still involved in the day-to-day running of GAE, and retained directorships throughout Litho Supplies' tenure.

GAE was forced into administration at the start of this year following the administration of Litho Supplies at the end of 2009.

According to Hards, the new business would be continuing as a finishing equipment supplier only, so business with press manufacturers Mitsubishi and Shinohara will not continue.

Elsewhere, the business and assets of Graphica Plus, which also went into administration with Litho Supplies, has been sold to Slough-based consumables supplier All Print Supplies. Nine jobs have moved across as part of the deal.

More to follow.