The deal for the 70-staff commercial printing firm, which serves blue-chip clients, was completed last Friday for an undisclosed sum.

The MBO team was led by managing director Brian Reeder and included human resources and administration director Sandra Cox, financial director Mike Carey and sales directors Steve Mundin and Tony Holland.

The 6m-turnover company, which was previously owned by Irish investment firm Allen, McGuire & Partners, plans to invest in new kit next year, although details are not finalised.

Carey said that the deal for the firm, which was founded in 1973 in Beeston, Nottingham, would "bring all decision-making to a local level where we can react quickly to new opportunities".

Cox said that the deal would support the firm's aim to build teamwork and a sense of ownership among staff. "Without them we'd not be here today. The majority are local people who have been with us for years through thick and thin."

Reeder added: "Customers will notice no day-to-day differences as a result of the takeover, and no staff changes are planned."

Heanor Gate's press hall currently runs a Komori 528, a MAN Roland 704, a MAN Roland 705 and a Komori 640.

The deal signals a further move away from UK print for Irish investment firm Allen, McGuire & Partners, which bought the print division of Aspen Communications in 1998. The deal included Heanor Gate, which had been bought by Aspen in 1989.

Allen, McGuire & Partners also owned South Wales printer Pensord until its sale to an MBO team led by Tony Jones in June 2003.

Story by Josh Brooks