The newly combined business began trading under its new name at the beginning of July, with the deal intended to expand the two firms’ reach, range of services, and market share within the print and signage industry.
NPS Print directors Richard and Julie Bennett and Richard’s brother Peter Bennett, managing director of Strategic Print, decided that as their businesses provided complementary services, merging the two would bring a host of new opportunities and provide a service of greater depth and support to their existing clients.
In planning for the past 12 months, the deal will see all 20 members of staff retained across both companies, without any duplication of roles.
For the moment, the restructured business will operate from NPS’ current premises at the Whitehouse Industrial Estate, Newcastle, with a move to larger premises looking likely at some stage in the future as the business grows.
Durham law firm Swinburne Maddison’s Alex Wilby, a partner in corporate finance, mergers and acquisitions, advised Richard and Peter Bennett on the deal.
Wilby had previously acted for the Bennett family in the disposal of Derwentside Environmental Testing Services to Suez in 2016 and in the acquisitions of Atkinson Print in 2019 and Caremore Services in July 2021.
Commenting on the new deal, which in addition to the transactional M&A activity also required detailed advice on corporate governance and shareholder agreements, Wilby said: “It’s great to be working again with Richard and Julie and I am pleased they called upon us to provide legal advice at this exciting stage in the development of their business interests.
“At Swinburne Maddison we understand and can implement complex shareholder arrangements spanning multiple companies and integrated group structures, so we were ideally placed to advise on the merger, which I am certain will provide distinct advantages as the business grows. We wish them all success.”
Day-to-day, the businesses said the merger will make “little difference” to operations as teams from both companies have already spent some time working and training together for the benefit of customers, who will be able to access a larger range of additional services from under one roof.
Richard Bennett said: “As individuals, Peter and I were fortunate to preside over two successful businesses which had much in common yet provided complementary, non-competing services. We had discussed the possibility and practicalities of working together for some time and in essence, the more we looked at it, the more it made perfect sense.
“As we both have national clients, the merger will not only strengthen our combined performance, bringing together Peter’s vast print knowledge and Julie’s and my scale up experience, but we are also looking at new capital investment in equipment to streamline the operation and of course, create further efficiencies in the existing businesses.
“We are looking forward to offering an expanded range of services to our customers up and down the country, which will inevitably lead to some future job creation, and are excited by the opportunities that will undoubtedly lie ahead in new markets.”
Wilby was assisted in the transaction by associate solicitor Ellie Bradshaw and trainee solicitor Ashley Patterson.
