The 40-year old company entered into administration with Robert Adamson of Mazars Business Recovery on 13 October.

Paragon will continue to trade the business from its Rotherham-site, while 48 employees have been taken on as part of the acquisition.

Paragon group marketing and sales director, Iain Black commented: "Our strategy is clear. We want to continue to invest in order for us to develop and offer a range of products and services to our clients. The integration of Wright Printing Services allows us to demonstrate our commitment to the trade market. "

Wright Printing Services provides a range of services including business stationery, promotional materials, laser and continuous forms, NCR sets, books and pads and reel to reel direct mail.

Wright Printing Services managing director, Ian Wright, said: "The Paragon Group is a major pan-European player within the industry and to be part of such a group provides Wright’s with a world of opportunity. The group felt that our offering was complementary to the portfolio of services already offered."

This represents the latest in a long line of acquisitions for Paragon, which bought Bemrose Booth In July and Ward Knowles in 2009.