Brian Stanfield, from the Reading office of administrator Harrisons, confirmed that the 40-staff business had been sold to Trowbridge, which, according to a filing on Companies House, was incorporated on 12 January and shares two of Midway Colour Print's three directors, Mark Cooper and Paul Hampson.
Harrisons advertised the sale of Midway, which is based in Holt, near the town of Trowbridge, on its website, encouraging prospective suitors to contact the firm by 22 January.
A statement on the site read: "The company will be placed into administration and this opportunity is to acquire the business in a pre-packed sale, which would be an attractive option in its own right, as well as a bolt-on to an existing business."
According to the administrator's report, the company had a peak turnover of £3.3m, with a gross profit of £1.1m.
It added that Midway's plant and machinery was subject to hire purchase agreements and was valued at around £800,000. Finance on the equipment amounts to in excess of £1.1m and is therefore in negative equity.
According to Midway's website, the printer operated an all-Heidelberg pressroom, with two five-colour B1 presses, along with a two-colour B1 and finishing kit. It claims to be "one of the leading printers in the West Country".
It listed clients including Future Magazines Group and The Independent newspaper.
