The race is entering its final stages and four parties are understood to be in the running with the final deal expected to be completed next week.

Several industry sources have indicated that Paragon, MBA Group, Tangent Communications and Mark Scanlon are in the running to pick up the business. Sources have also said that that Paragon is currently leading the race.

Vertis Europe executive chairman George Moore declined to reveal details on who was in the running to buy the business. "We are looking to make a final decision by next week," he added.

Scanlon and Tangent director Nick Green would not comment on the speculation, while Paragon and MBA Group were unavailable for comment.

Moore would also not comment on Vertis Direct Marketing Services managing director Richard Husband's departure from the company. Husband is currently on six months' gardening leave.

Last month, Vertis circulated an information memorandum amid speculation that it was ready to pull out of the UK direct marketing arena.

Moore was appointed to oversee the restructuring process.

The company has four sites in Leicester, Croydon, London and Swindon.

Vertis contenders
Paragon: Part of the Grenadier Group. Manufacturing sites in Castleford and Sunderland with a sales office in Leeds
MBA Group: Based in North London specialising in areas such as corporate print management and direct mail production
Tangent Communications: Previously the London Digital Printing Group, it added Documedia to the company in July 2005
Mark Scanlon: print industry investor

Story by Philip Chadwick